Can large investors influence Chainlink’s future after a 16% drop in LINK?

LINK saw a drop of 16%, falling to a low of 17.70 USD after failing to breach the 20 USD resistance. Whale investors increased their holdings by 4.59%, showing confidence in Chainlink.

Despite accumulating LINK, the market displays bearish sentiment. Futures market metrics show a Long/Short Ratio of 3.38, indicating that 77.15% of positions are long. More losses may precede any soon recovery.