Chainlink (LINK) Price: Institutions Are Loading Up on LINK - Here’s What the Data Shows

TLDR

• LINK is trading around $9.49, up 1.31% in 24 hours, with a market cap of $7.1 billion
• A bullish pennant pattern has formed, with analysts eyeing a breakout toward the $10 level
• Bitwise purchased 171,870 LINK worth $1.708 million from Coinbase and Wintermute over six days
• Chainlink Spot ETFs recorded net inflows for two consecutive days, totaling over $3.5 million
• Open interest in LINK-denominated terms hit nearly 29 million, the highest since before the October liquidation crash

Chainlink (LINK) is trading around $9.49 after a 1.31% gain in the past 24 hours. The token has a 24-hour trading volume of $254 million and a market cap of $7.1 billion.

LINK broke out of consolidation about a week ago and held above $8.10. It climbed as high as $9.70 before cooling and settling near current levels.

The token is now forming a bullish pennant on the price chart. This pattern typically appears when price consolidates after a strong rally, with buyers pausing while sellers remain in control.

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