A wallet associated with FlowDesk deposited 1.61 million LINK tokens into Binance, worth $15.19 million. This transaction has attracted market attention. Chainlink's price has stabilized around $9.19 after breaking through a long-term downtrend. The altcoin is consolidating between the support level of $7.95 and the resistance level of $9.60. If it can sustain a breakout above the resistance, it could target $12.00. Despite the large influx of funds, derivatives data shows the market still exhibits a strong bullish bias, with the top traders' long-short ratio at 3.01. However, there are significant leveraged long positions around $9.00 below the current price, which could trigger a liquidity wipeout.

LINK2,26%
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