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<p><span style="font-weight: 400;">The Chainlink price </span><a href="https://www.coingecko.com/en/coins/chainlink" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">dropped</span></a><span style="font-weight: 400;"> more than 2% over the past 24 hours to trade at $18.20 as of 9:25 am EST as investors start to realize their profits from LINK’s recent rally.</span></p>
<h2 id="span-style-font-weight-400-whales-bet-big-on-link-span"><span style="font-weight: 400;">Whales Bet Big On LINK</span></h2>
<p><span style="font-weight: 400;">LINK attracted a lot of investor interest over the past 30 days after it pumped more than 40% during this period. Large token holders have also been making strategic decisions regarding their LINK holdings to maximize their gains.</span></p>
<p><span style="font-weight: 400;">On-chain analysis tool Lookonchain revealed that a whale withdrew 2.7 million LINK tokens from Binance using 49 wallets over the past 30 days. This is while the Chainlink price climbed to a 22-month high and the altcoin’s market cap tapped $10 billion. Another whale also transferred more than $9 million in LINK from the crypto exchange in the last 10 days.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Whales/institutions continue to accumulate <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a>!</p>
 <p>This mysterious whale/institution withdrew 2,745,815 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a>($49.9M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> via 49 new wallets.</p>
 <p>Whale"0x2A19" withdrew 494,957 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a>($9M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> in the past 10 days.<a href="https://t.co/QoP2waErBS" rel="noopener noreferrer nofollow">https://t.co/QoP2waErBS</a><a href="https://t.co/iaPHa9f0XB" rel="noopener noreferrer nofollow">https://t.co/iaPHa9f0XB</a> <a href="https://t.co/GUW1S33NHf" rel="noopener noreferrer nofollow">pic.twitter.com/GUW1S33NHf</a></p>
 <p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1755067196072706218?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 7, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">Lookonchain revealed that the whales hold anywhere between $230,000 to $3.5 million in LINK each.</span></p>
<h2 id="span-style-font-weight-400-the-chainlink-price-falls-out-of-its-positive-channel-span"><span style="font-weight: 400;">The Chainlink Price Falls Out Of Its Positive Channel</span></h2>
<p><img decoding="async" src="https://s3.tradingview.com/snapshots/l/LMBXAY7d.png" alt="BINANCE:LINKUSDT Chart Image by StevenWalgenbach"></p>
<p><span style="font-weight: 400;">Daily chart for LINK/USDT (Source: </span><a href="https://www.tradingview.com/x/LMBXAY7d/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">TradingView</span></a><span style="font-weight: 400;">)</span></p>
<p><span style="font-weight: 400;">The </span><a href="https://insidebitcoins.com/news/top-crypto-gainers-today-feb-5-pendle-celestia-chainlink-optimism" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Chainlink</span></a><span style="font-weight: 400;"> price dropped out of a medium-term positive price channel over the past 48 hours. If it fails to close today’s daily candle back within this range, it may be at risk of retesting the $17.200 support level in the next 48 hours. Continued sell pressure at this point could result in LINK falling back into the consolidation zone between $14.200 and $17.200. In an extremely bearish scenario, the crypto may drop to as low as $11.895 through the course of the next fortnight.</span></p>
<p><span style="font-weight: 400;">This bearish thesis could be invalidated if LINK is able to close today’s trading session back within the bullish channel. The Chainlink price may then continue its bullish streak in the following few days, which could lead to it flipping the $20.755 resistance level into support.</span></p>
<h2 id="span-style-font-weight-400-the-chainlink-price-is-at-the-mercy-of-sellers-span"><span style="font-weight: 400;">The Chainlink Price Is At The Mercy Of Sellers</span></h2>
<p><span style="font-weight: 400;">Technical indicators on LINK’s daily chart suggest the Chainlink price could continue to fall in the&nbsp; upcoming days. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bearish.</span></p>
<p><a href="https://insidebitcoins.com/news/chainlink-price-prediction-for-today-february-3-link-technical-analysis" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">LINK</span></a><span style="font-weight: 400;"> remains in a bullish cycle, but this bullish momentum may be waning. The MACD line dropping towards the MACD Signal line suggests this. LINK’s daily RSI line is also closing in on the Simple Moving Average (SMA) line. Traders generally identify the RSI dropping towards the SMA line as a sign that buyers are weakening against sellers. These two lines intersecting in the next 48 hours could be an indication that bears have gained the upper hand against bulls.</span></p>
<p><span style="font-weight: 400;">While the Chainlink price looks to be at risk of falling more in the next 48 hours, Bitcoin Minetrix’s presale is fast-approaching the $11 million mark.&nbsp;</span></p>
<h2 id="span-style-font-weight-400-revolutionizing-bitcoin-cloud-mining-span"><span style="font-weight: 400;">Revolutionizing Bitcoin Cloud Mining</span></h2>
<p><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin Minetrix</span></a><span style="font-weight: 400;"> is a cutting-edge Bitcoin cloud mining project that looks to address the high barrier to entry and start-up costs for anyone looking to get started with cloud mining. Through its innovative decentralized platform, Bitcoin Minetrix makes Bitcoin cloud mining as simple as staking an ERC-20 token.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">China's latest crackdown on <a href="https://twitter.com/hashtag/Cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cryptocurrency</a> mining signals a major shift in the regulatory landscape. 🇨🇳</p>
 <p>Will this push towards energy conservation lead to a more sustainable future for <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a>, or will it simply relocate mining operations elsewhere? 🌍<a href="https://twitter.com/hashtag/BitcoinMinetrix?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinMinetrix</a> has… <a href="https://t.co/3GkQeLND6F" rel="noopener noreferrer nofollow">pic.twitter.com/3GkQeLND6F</a></p>
 <p>— Bitcoinminetrix (@bitcoinminetrix) <a href="https://twitter.com/bitcoinminetrix/status/1754484731951944066?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 5, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">Bitcoin Minetrix is one of the few projects that let investors earn a passive income that is paid in BTC. With the recent launch of spot Bitcoin ETFs (exchange-traded funds) in the U.S. and the upcoming halving event in April, this revenue generation opportunity may become very valuable in the short term.</span></p>
<p><span style="font-weight: 400;">Investors seem to be aware of this as they have been scrambling to get their share of Bitcoin Minetrix’s cloud mining power. This has resulted in its presale approaching the $10.4 million mark.</span></p>
<h2 id="span-style-font-weight-400-staking-rewards-coupled-with-mining-revenue-span"><span style="font-weight: 400;">Staking Rewards Coupled With Mining Revenue</span></h2>
<p><iframe title="Best Meme Coins to Buy Today?!" width="640" height="360" src="https://www.youtube.com/embed/w-XdCngCqwQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p><span style="font-weight: 400;">Bitcoin Minetrix’s platform implements a stake-to-mine model. This means that investors who stake the projects’s BTCMTX token can claim their share of Bitcoin Minetrix’s cloud mining power as well as the associated revenue.</span></p>
<p><span style="font-weight: 400;">To get started, investors will need to purchase BTCMTX on the project’s website. The token is currently selling for $0.0133 and can be bought using either ether (ETH), Tether (USDT) or a bank card. Once purchased, these tokens will need to be staked in exchange for “gas” reward tokens.&nbsp;</span></p>
<p><span style="font-weight: 400;">By burning these rewards, token holders will be able to claim a stake in the project’s mining power and start earning. Bitcoin Minetrix is also offering its presale investors an Annual Percentage Yield of 65% with its staking program.</span></p>
<p><span style="font-weight: 400;">Too good to miss? BTCMTX can be purchased </span><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p>
<h3 id="span-style-font-weight-400-related-articles-span"><span style="font-weight: 400;">Related Articles:</span></h3>
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Chainlink Price Prediction: Whales Move On LINK After 40% Pump In A Month As This Bitcoin Derivative ICO Closes On $11 Million

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