The cryptocurrency market has turned bearish over the past 24 hours, with Bitcoin dropping below $80,000 once again. Ethereum has also dropped below $2,300, while XRP failed to defend the $1.45 support level. LINK, the native coin of the Chainlink blockchain, has lost 3% of its value since Wednesday and is now trading at $10.2. The bulls have defended the $9.91 support level, and this could allow the buyers to step in. Despite the recent pullback, improving on-chain metrics, with rising social dominance and trading volume, suggest bullish sentiment may be building for LINK. Furthermore, steady flows into US-listed spot LINK Exchange Traded Funds (ETFs) indicate growing institutional demand.
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