🐳 Whales Hoarding LINK! Will $263M Break the Bearish Curse? 🧙‍♂️

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Ah, the peculiar dance of Chainlink’s price, trapped like a bureaucrat in a Gogol novella, confined within a narrowing bearish channel, despite the whispers-nay, the roars-of accumulation from those enigmatic whales. 🌊💼

  • LINK, that mischievous token, hovers near $12.8, nursing double-digit weekly wounds and a volume as feeble as a sickly clerk in a St. Petersburg winter. 🥶
  • Whales, those leviathans of the crypto sea, have gobbled up over $263M in LINK since November, while exchange balances shrink like a coward’s courage. 🐳💰
  • The technical structure remains as bearish as a Gogol protagonist’s outlook, unless the price reclaimeth its lost resistance levels. 🏰⚔️

As I scribble these words, LINK trades at a modest $12.78, boasting a daily gain of 0.7%. Yet, over the past month, it hath plummeted 9.2%, and in the last week, a full 10%, as sellers guard their resistance like a miser guards his coins. 🛡️💸

Daily trading volume hath shriveled to $541 million, a 21% decline from yesternight, hinting at a lethargy akin to a peasant after a hearty borscht. 🍲😴 Derivatives volume echoes this torpor, slipping 19% to $1.02 billion, while open interest creeps up 2.7% to $544 million. Traders, it seems, are clutching their positions like a nervous bride her bouquet. 👰💐

Whale Shenanigans and the Flow of Coin

While the price action staggers like a drunkard on Nevsky Prospect, on-chain data paints a different tableau. According to a Dec. 16 X post from Santiment, the top 100 Chainlink wallets have amassed 20.46 million LINK since early November, a hoard worth $263 million at current prices. 🧙‍♂️📜

Meanwhile, LINK balances on exchanges have dwindled to their yearly nadir, suggesting a mass exodus into self-custody, as if the tokens fear the exchanges’ grasp. 🚪🏃♂️

🐳 ChainLink’s top 100 largest wallets have been accumulating since the start of November, collectively adding 20.46M $LINK (~$263M) back to their wallets.

👀 Watch the accumulation, & view the individual wallets that make up this group of whales here. 👇

– Santiment (@santimentfeed) December 16, 2025

Institutional flows, too, remain as steadfast as a Gogol character’s delusions. Grayscale’s LINK exchange-traded fund, launched on Dec. 2, hath seen naught but inflows, amassing $56 million in cumulative net inflows. On Dec. 16, it added another $1.38 million, even as Bitcoin and Ethereum ETFs bled over $500 million. 🩸💼

Recent network developments have bolstered this long-term confidence. In mid-December, Coinbase anointed Chainlink’s cross-chain interoperability protocol as the exclusive bridge for expanding wrapped assets like cbBTC and cbETH across multiple chains. 🌉✨

Simultaneously, tokenized asset issuer Backed unveiled its CCIP-powered xBridge, enabling regulated tokenized equities to traverse networks with the ease of a ghost through a Gogol story. 👻🚀

Chainlink Price: A Technical Farce

On the daily chart, LINK persists in its bearish masquerade, trading within a tightening structure. Price forms lower peaks while clinging to support around $12.60-$12.70, a range as suffocating as a Gogol protagonist’s existential dread. 🌀😖

Each bounce meets resistance, with key moving averages looming above like disapproving relatives. 🧓👎

Momentum signals are as indecisive as a Gogol hero, and the relative strength index hovers near 50, leaving LINK in neutral territory. Volume, too, has waned, suggesting both buyers and sellers are as lethargic as a Russian winter. ❄️😴

Should buyers muster the courage to push the price above $13.50 and hold it, momentum might surge toward $14.50. Yet, this would require participation as robust as a Cossack’s mustache. 🧔💪

On the flip side, a break below $12.60 would plunge the structure into deeper despair, opening the gates to the high-$11 range, a fate as bleak as a Gogol ending. 🌪️😱

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2025-12-17 12:11