Bitcoin

Momentum

Chainlink

Chainlink is flashing a quiet but important signal beneath the surface. While LINK price dipped around 6% today and is now trading slightly above the $12 level, the network’s largest wallets are moving in the opposite direction.
Data shared by Santiment shows that Chainlink’s top 100 wallets have added a combined 20.46 million LINK since the start of November. At current prices, that accumulation is worth roughly $263 million. This shift stands out even more because it happened while price action remained weak and choppy.
<h3 class="wp-block-heading" id="whales-flip-from-distribution-to-accumulation">Whales Flip From Distribution to Accumulation</h3>
The chart shows a clear change in behavior. Through September and October, supply held by top wallets trended lower as LINK price pushed higher. That pattern usually reflects profit-taking into strength.
That changed around November 1. From that point forward, the yellow supply line representing top-holder balances began rising again. As price moved sideways and then drifted lower, large holders steadily increased exposure.
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This matters because it suggests intent. Whales often distribute into strong rallies and accumulate during quiet pullbacks. The timing here fits that pattern almost perfectly.
The accumulation also appears consistent rather than reactive. There is no single spike tied to a sharp dip. Instead, balances increase gradually over several weeks, which points to planned positioning rather than short-term trading.
<h3 class="wp-block-heading" id="link-price-weakness-has-not-shaken-large-holders">LINK Price Weakness Has Not Shaken Large Holders</h3>
LINK’s 6% drop today pushed price closer to the lower end of its recent range. Despite that move, price is still holding slightly above $12, a zone that has acted as both support and resistance over the past year.
From a structure standpoint, LINK remains stuck in consolidation. Momentum is weak, volume is muted, and buyers have not yet shown urgency. That lack of excitement often discourages retail interest, but it can create ideal conditions for larger players to build positions quietly.
The divergence between price and whale behavior is the key takeaway. While short-term traders react to daily candles, long-term holders appear focused on value rather than momentum.
Another important detail from the data is <a href="https://captainaltcoin.com/chainlink-link-signals-suggest-price-is-stabilizing-spike-to-23-re-enters-the-conversation/" rel="noopener noreferrer nofollow">where this LINK is going.</a> Much of the accumulation is happening in non-exchange wallets. That reduces readily available supply and lowers immediate sell pressure.
When large amounts of tokens move off exchanges, it does not guarantee a rally. It does, however, shift the balance. Any future demand has less liquid supply to work with, which can amplify price moves once momentum returns.
This dynamic often plays out quietly before it shows up on price charts. By the time LINK breaks out, the accumulation phase is usually already complete.
Read also: <a href="https://captainaltcoin.com/heres-exactly-why-the-crypto-market-is-crashing-as-bitcoin-faces-an-80k-dip/" rel="noopener noreferrer nofollow">Here’s Exactly Why the Crypto Market Is Crashing as Bitcoin Faces an $80K Dip</a>
<h3 class="wp-block-heading" id="what-this-means-for-link-going-forward">What This Means for LINK Going Forward</h3>
Right now, Chainlink sits in an awkward spot. <a href="https://captainaltcoin.com/is-chainlink-link-about-to-pump-this-december-this-data-says-somethings-shifting/" rel="noopener noreferrer nofollow">Price action looks uninspiring</a>, and broader market sentiment remains cautious. At the same time, whale behavior points to confidence rather than concern.
If LINK loses the $12 level decisively, downside risk remains toward previous demand zones. But as long as accumulation continues and price holds this range, the current setup looks more like a reset than a breakdown.
Big wallets are acting early, not late. That does not mean an immediate bounce is coming, but it does suggest that smart money sees value at these levels while the market is still undecided.
Subscribe to <a href="https://www.youtube.com/@Captain-Altcoin" rel="noopener noreferrer nofollow">our YouTube channel</a> for daily crypto updates, market insights, and expert analysis.
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The post <a href="https://captainaltcoin.com/chainlinks-biggest-wallets-resume-buying-20-46m-link-added-as-price-stalls/" rel="noopener noreferrer nofollow">Chainlink’s Biggest Wallets Resume Buying: 20.46M LINK Added as Price Stalls</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.

Chainlink’s Biggest Wallets Resume Buying: 20.46M LINK Added as Price Stalls

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