Overview
- LINK is trading around $9.4 after a recent rally and is pausing just below the 200-day exponential moving average near $9.56, a level traders view as the key barrier for a medium-term recovery.
- Spot Chainlink ETFs recorded $2.07 million in net inflows on Monday, the biggest single-day intake since July, a move that helped push price toward the 200-day trend.
- Arkham data shows Bitwise bought roughly 171,870 LINK (about $1.708 million) from Coinbase and Wintermute, accounting for a large share of the recent ETF purchases.
- Derivatives and exchange-flow indicators temper the rally because LINK’s long-to-short ratio sits near 0.9, funding rates are slightly negative, and spot netflow moved about -$1.4 million indicating coins left exchanges.
- Broader context points to concentrated holder accumulation and rising futures open interest, but analysts say a sustained series of inflows and continued exchange outflows are necessary before the market can confidently target $10 or higher.