The altcoin market is witnessing renewed interest in Chainlink (LINK) as large wallets are reportedly accumulating heavily.
On-chain data, technical analysis, and sentiment indicators indicate that LINK may be entering a new bullish cycle — potentially outperforming Bitcoin in the coming period. But is this the start of a new “super wave,” or just a flicker before the storm?
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Big Money Flowing In, On-Chain Indicators Turn “Green”
In the past month, Chainlink (LINK) has notably ramped up development activity and community engagement. This uptick in activity is supported by data from Santiment, which shows that Chainlink ranks among the top 10 Real World Asset (RWA) projects concerning developmental efforts. This increasing importance underscores LINK’s integral role in the RWA ecosystem, where the demand for reliable off-chain data and oracle solutions has become crucial.
Moreover, on-chain data highlights a significant trend: LINK’s 30-day Market Value to Realized Value (MVRV) ratio dipped below -5% on October 17, 2025. Analysts often describe this threshold as an “ideal accumulation zone.” Essentially, most short-term investors are currently at a loss, which historically tends to be the moment when larger investors, or whales, begin their accumulation.
Indeed, LINK has recently experienced several large-scale accumulation transactions. Significant withdrawal activities from exchanges signal a trend of long-term holding among whales, further establishing confidence in Chainlink’s future.
Although LINK retraced to the $16–$17 range recently, it has maintained a strong support level at $18. If prices can break above the $20 mark, analysts believe that overall market sentiment could swiftly revert to bullish, igniting renewed optimism among traders.
Expert Insights: A New Bull Cycle or Hype Effect?
Technical analysts are closely monitoring LINK’s performance. Some, like Daan, observe that Chainlink has consistently outperformed the altcoin index (TOTAL2) during significant market rallies since 2021. They note that whenever a similar accumulation pattern emerges, LINK often leads the charge in the subsequent price surges. Michaël van de Poppe recently highlighted the LINK/BTC price structure, suggesting a potential breakout is on the horizon.
At this juncture, three primary factors seem to converge, suggesting a potentially bullish future for LINK. Firstly, the observed whale accumulation indicates heightened long-term confidence in the asset’s value. Secondly, Chainlink’s expanding role in RWA applications and strong on-chain fundamentals create continuous demand for the token. Lastly, the technical setup with significant support zones and notably negative MVRV ratios implies a possible impending price reversal.
However, it’s crucial to note that these encouraging indicators don’t guarantee an immediate bull run. The altcoin market is still intricately tied to Bitcoin’s fluctuating trends; thus, any sharp decline in BTC may inevitably weigh on LINK as well. Additionally, while some optimistic projections suggest LINK could reach ambitious price targets, such as $100, these remain speculative, contingent on overall market liquidity and capital movements across cryptocurrencies.
