Renewed interest in Chainlink (LINK) is evident in the altcoin market as large wallets are reportedly making substantial accumulations.
On-chain data, technical analysis, and sentiment indicators suggest that LINK may be entering a bullish phase—possibly outperforming Bitcoin in the near future. But is this the beginning of a significant new trend, or merely a brief surge before a downturn?
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Significant Capital Inflow as On-Chain Indicators Turn Positive
In the last 30 days, Chainlink (LINK) has shown a significant rise in development activity and network engagement.
Data from Santiment indicates that Chainlink ranks among the top 10 Real World Asset (RWA) projects with the highest development activity. This underscores the network’s growing relevance in the RWA landscape, where the demand for off-chain data and oracle solutions is crucial.
On-chain data from Santiment also shows that LINK’s 30-day MVRV ratio (which measures the average profit/loss of recent wallet activity) fell below -5% on October 17, 2025, a level often regarded as an “ideal accumulation zone.” This indicates that most short-term investors are facing losses, historically a sign that whales begin to accumulate.
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Recently, LINK has seen multiple large-scale accumulation transactions. Whales have been withdrawing LINK from exchanges, signaling intentions for long-term holdings.
Despite LINK’s recent pullback to the $16–$17 range, it has maintained the $18 support level. An analyst suggests that if the price surpasses $20, market sentiment could quickly revert to bullish.
Expert Insights: New Bull Cycle or Hype?
Technical analysts, including Daan, note that Chainlink has historically outperformed the altcoin index (TOTAL2) during vigorous market rallies since 2021. This accumulation pattern often positions LINK among the first tokens to lead future growth. Michaël van de Poppe echoed this sentiment, noting that the LINK/BTC price chart indicates a forthcoming significant breakout.
At this moment, three critical factors are aligning to create a potential bullish outlook for LINK. Firstly, whale accumulation reflects increasing long-term confidence. Secondly, a solid on-chain foundation and Chainlink’s growing significance in RWA applications ensure sustained demand for the token. Lastly, a favorable technical setup with strong support levels and significantly negative MVRV ratios hints at a possible price rebound.
Nevertheless, these indicators do not assure an immediate bull run. The altcoin market remains heavily influenced by Bitcoin’s overall movement; a sharp decline in BTC could similarly impact LINK. Furthermore, optimistic forecasts like LINK reaching $100 remain speculative, largely dependent on overall market liquidity and capital inflow.
