NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Chainlink Corrects 11% From Its All-Time High; Dumping Ahead?

Yashu Gola
Yashu Gola
4 years ago
3 mins read
LINK, chainlink, cryptocurrency, linkusd, linkbtc

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Chainlink’s euphoric in the third quarter took its price to an all-time high of $8.53 on Monday.
  • Nevertheless, the tenth-largest cryptocurrency corrected lower by up to 19 percent from its record level.
  • Now a string of technical and fundamental catalysts hints that further bearish correction is underway.

Chainlink went to its own moon this week.

The tenth-largest cryptocurrency project (Ticker: LINK) established an all-time high at $8.53 on Monday. The gains appeared out of a parabolic uptrend that kicked off on June 6, 2020. Since then, the LINK/USD exchange rate has climbed by almost 80 percent.

LINK, chainlink, cryptocurrency, linkusd, linkbtc

Chainlink's LINK topped at $8.53 as on July 13. Source: TradingView.com

Chainlink Fundamentals

A large part of Chainlink’s gains came out of a renewed interest in altcoins. As bitcoin traded in a sideways range in the last two weeks, traders started migrating part of their top coin positions into its top rivals. As a result, almost all the top-10 coins surged higher against Bitcoin.

Other reasons that allegedly boosted buying demand in the Chainlink market are its high-profile partnerships and a mere fear-of-missing-out sentiment among traders. Small upside gains, coupled with a rise in volume, led individuals to anticipate a breakout. That received further assistance from growing social media trends.

Santiment, a portal that tracks trends across the cryptocurrency sector, stated that Chainlink’s LINK token grabbed the top spot on their so-called Emerging Trends list. It stated that FOMO and FUD both played a crucial role in sending LINK to its all-time high.

“When a pumping asset like LINK went #1 on Santiment‘s Emerging Trends, it meant the mainstream became aware,” the portal tweeted Monday.

LINK, chainlink, cryptocurrency, linkusd, linkbtc

LINK FOMO may come to an end. Source: Santiment

But Santiment also warned about the drying-out phase of a cryptocurrency pump. The portal said coins that top their Emerging Trends list typically reaches a state of bullish exhaustion.

“Based on our study, once the increased crowd attention subsides (which usually happens in a matter of hours/days), a short-term price correction – or consolidation – is often a likely outcome,” Dino Ibisbegovic, head of content at Santiment, wrote in a blog post.

Further Correction Expected

What Santiment feared has become reflective in the data provided by Glassnode. The blockchain analysis firm revealed that traders had transferred about $16 million worth of LINK tokens to different exchanges as of Monday, adding that it is the most massive LINK transfer “they have seen so far.”

LINK, chainlink, cryptocurrency, linkusd, linkbtc

Over 5,000 LINK tokens made way into the Binance wallets on Monday. Source: Glassnode

The spike points to traders’ inclination to trade the Chainlink token off for other assets – or merely sell it at its local top to secure short-term profits.

Technically, the token stands into an overbought territory that, too, hints a deeper bearish correction ahead.

Photo by Fabian Quintero on Unsplash

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

비트코인 보유고에 대한 불안감? 사상 첫 솔라나 레이어 2 코인의 상승 가능성 분석

부채 기반 비트코인 전략에 대한 불안감 속 솔라나의 대안은?

기업 재무 전략이 전통 금융과 가상화폐의 융합으로 새로운 시대에 접어들고 있다. 특히 두 가지 방식이 디지털 자산 운용 방식을 근본적으로 바꾸고 있다. 💡 첫 번째 접근법: 검증된...

Soyeon Lee 3 hours ago
Ethereum Prepares For A Decisive Move: ETH/BTC Setup Could Trigger Altseason

Ethereum Prepares For A Decisive Move: ETH/BTC Setup Could Trigger Altseason

Ethereum is approaching a critical test as price action tightens, setting the stage for a decisive move above key demand....

Sebastian Villafuerte 4 hours ago

Nová kryptomena vzbudzuje pozornosť ako možný nástupca Bitcoinu: „Pozitívny signál“

Ťažba Bitcoinu je už dlhodobo terčom kritiky kvôli obrovskému dopadu na životné prostredie. Nová kryptomena s názvom Bitcoin.ℏ však sľubuje...

Kováč Martin 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana Analyst Sees $123 And $116 As Mid-Zone Support Levels – Here’s Why

Solana Analyst Sees $123 And $116 As Mid-Zone Support Levels – Here’s Why

Sebastian Villafuerte Just now

Bitcoin Price Deviates From Global M2 Money Supply, Is The Bull Run Over?

Scott Matherson 1 hour ago
Noua criptomonedă atrage atenția ca posibilă înlocuitoare a Bitcoinului

Noua criptomonedă atrage atenția ca posibilă înlocuitoare a Bitcoinului: „Un semn pozitiv”

Munteanu Cristian 2 hours ago

Premium Sponsors

Top Brands

Press Releases

  • Нова криптовалута предизвиква вълнение като потенциален заместител на Биткойн: „Положителен знак“

    Нова криптовалута предизвиква...

    2 hours ago
  • Nová kryptoměna přitahuje pozornost jako možná náhrada za Bitcoin: ‘Pozitivní signál’

    Nová kryptoměna přitahuje pozornost jako možná...

    2 hours ago
  • Dự Đoán Giá Notcoin NOT Giảm 3% Khi Nhà Đầu Tư Chuyển Hướng Sang Token Giao Dịch Trên Telegram Với Lợi Nhuận 277% APY

    Dự Đoán Giá Notcoin: NOT Giảm 3% Khi Nhà Đầu Tư...

    3 hours ago
  • ビットコイン15万ドル目前|1000倍が狙える仮想通貨プレセール注目リスト

    ...

    4 hours ago
  • 地政学リスクに備えるベテラン投資家たち|今注目の仮想通貨おすすめとは?

    ...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.