A whale purchased 800K LINK from Coinbase for $6.8 million, bringing its total holdings to 5.315 million LINK worth over $44 million. LINK was rejected at $8.9 and dropped to a low of $8.18, but exchange Netflow has been negative for over five consecutive weeks, a level last seen in October 2024. The Exchange Supply Ratio (ESR) hit a new low of 0.12, indicating seller exhaustion and a strong holder conviction ahead of a potential price surge. Despite demand recovering to 2024 levels, CMF turned negative at -26.39, keeping LINK under pressure with a likely range around $8 in the near term.
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