Chainlink Whale Drops $16.85M Bag—Bullish Setup or Quick Flip?
- A whale scooped up 663,580 LINK worth $16.85M, same wallet that profited $1.72M swing trading in 2023.
- LINK has doubled in value since 2024, now flirting with yearly highs around $26.
- Analysts eye a potential move toward $30 if BTC strength continues and whale accumulation holds.
A mysterious whale has re-entered the Chainlink market, scooping up a hefty 663,580 LINK tokens this past Sunday. The wallet shelled out around $16.5 million, instantly grabbing attention across crypto circles. What makes it even more interesting is that this same address had been active two years ago, when it pulled off a swing trade that netted $1.72 million in profit.
For those unfamiliar, swing trading is all about timing short windows—days to weeks—riding momentum until a set price target is hit, then cashing out. No diamond hands here. The whale’s history of calculated plays suggests this latest move isn’t random.
Whale Activity Raises Questions
Data from Arkham Exchange shows the $16.85M worth of LINK landing in the wallet, sparking speculation over what comes next. Will the whale dump into the next leg up, repeating its 2023 playbook, or is this accumulation hinting at a larger conviction bet? Right now, it’s anyone’s guess.
“Whales aren’t like retail. They don’t FOMO—they execute,” one trader remarked. That earlier $1.72M profit proves the address knows its way around timing the market. Whether history repeats itself in 2025 remains to be seen.
Chainlink’s Market Momentum
While the whale moves steal headlines, LINK itself has quietly become one of this year’s top performers. The token has doubled investors’ money since 2024, racking up gains of over 110% in twelve months. Currently trading just shy of $26, LINK sits close to its yearly high. Analysts say another breakout could carry it toward the $30 mark, especially if Bitcoin keeps drawing in fresh institutional capital through ETFs.
It’s also worth noting: Chainlink has long shown correlation with BTC. When Bitcoin rallies, LINK tends to follow—sometimes with sharper percentage swings. That dynamic could amplify gains if broader market sentiment stays bullish.
Final Thoughts
Whether this whale is setting up for another quick flip or betting on bigger upside, the timing couldn’t be more crucial. LINK is already one of the stronger altcoins of 2025, and heavy buys like this only stoke speculation. If Bitcoin steadies after its recent pullbacks, Chainlink may very well be gearing up for its next leg higher. But as always, when whales swim, smaller fish should tread carefully.
The post Chainlink Whale Drops $16.85M Bag—Bullish Setup or Quick Flip? first appeared on BlockNews.
Read More
Michael Saylor’s Strategy Scoops Up $342 Million in BTC on the Dip, But Stock Sales Stir Debate
Chainlink Whale Drops $16.85M Bag—Bullish Setup or Quick Flip?
- A whale scooped up 663,580 LINK worth $16.85M, same wallet that profited $1.72M swing trading in 2023.
- LINK has doubled in value since 2024, now flirting with yearly highs around $26.
- Analysts eye a potential move toward $30 if BTC strength continues and whale accumulation holds.
A mysterious whale has re-entered the Chainlink market, scooping up a hefty 663,580 LINK tokens this past Sunday. The wallet shelled out around $16.5 million, instantly grabbing attention across crypto circles. What makes it even more interesting is that this same address had been active two years ago, when it pulled off a swing trade that netted $1.72 million in profit.
For those unfamiliar, swing trading is all about timing short windows—days to weeks—riding momentum until a set price target is hit, then cashing out. No diamond hands here. The whale’s history of calculated plays suggests this latest move isn’t random.
Whale Activity Raises Questions
Data from Arkham Exchange shows the $16.85M worth of LINK landing in the wallet, sparking speculation over what comes next. Will the whale dump into the next leg up, repeating its 2023 playbook, or is this accumulation hinting at a larger conviction bet? Right now, it’s anyone’s guess.
“Whales aren’t like retail. They don’t FOMO—they execute,” one trader remarked. That earlier $1.72M profit proves the address knows its way around timing the market. Whether history repeats itself in 2025 remains to be seen.
Chainlink’s Market Momentum
While the whale moves steal headlines, LINK itself has quietly become one of this year’s top performers. The token has doubled investors’ money since 2024, racking up gains of over 110% in twelve months. Currently trading just shy of $26, LINK sits close to its yearly high. Analysts say another breakout could carry it toward the $30 mark, especially if Bitcoin keeps drawing in fresh institutional capital through ETFs.
It’s also worth noting: Chainlink has long shown correlation with BTC. When Bitcoin rallies, LINK tends to follow—sometimes with sharper percentage swings. That dynamic could amplify gains if broader market sentiment stays bullish.
Final Thoughts
Whether this whale is setting up for another quick flip or betting on bigger upside, the timing couldn’t be more crucial. LINK is already one of the stronger altcoins of 2025, and heavy buys like this only stoke speculation. If Bitcoin steadies after its recent pullbacks, Chainlink may very well be gearing up for its next leg higher. But as always, when whales swim, smaller fish should tread carefully.
The post Chainlink Whale Drops $16.85M Bag—Bullish Setup or Quick Flip? first appeared on BlockNews.
Read More