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- Chainlink ETF inflows reached $2.07 million, signaling renewed institutional interest in LINK.
- Bitwise accumulated 171,870 LINK, while exchange netflows turned negative.
- LINK is holding above $9, keeping the path toward the key $10 resistance level open.
Chainlink (LINK) is showing renewed strength after spending the past week in an ascending channel, with rising institutional demand adding fresh support to its recovery. After breaking above its previous consolidation range near $8.10, LINK climbed as high as $9.70 before settling around $9.40–$9.50.
The move comes as spot Chainlink ETF inflows return, while exchange data points to reduced selling pressure. Together, these signals could give LINK another opportunity to challenge the closely watched $10 resistance level.
Chainlink ETF inflows point to renewed institutional demand
Institutional activity has become one of the key developments behind Chainlink’s latest rebound. Spot LINK ETFs recorded net inflows for two straight sessions, according to SoSoValue.
On August 17, inflows reached $2.07 million, following $1.47 million recorded during the previous week. The figures suggest that institutional investors are becoming more willing to gain exposure to LINK even as broader crypto-market momentum slows.
Bitwise appears to have played a major role. Data from Arkham shows the Bitwise Chainlink ETF acquired 171,870 LINK from Coinbase and Wintermute, with the purchases valued at roughly $1.71 million. The fund subsequently held about 3.09 million LINK worth approximately $30 million.
LINK exchange outflows add to bullish case
Institutional accumulation is also being supported by exchange activity. Spot netflow moved to negative territory, falling to about -$1.4 million after being positive the previous day.
A negative netflow means more LINK moved away from exchanges than into them. While exchange outflows do not guarantee higher prices, sustained withdrawals can reduce immediately available selling supply and reinforce demand-driven rallies.
For LINK, the combination of ETF purchases and lower exchange balances provides a stronger backdrop for the current uptrend.
Can Chainlink reclaim $10?
Technical indicators are also leaning bullish. Chainlink’s Positive Directional Index (+DI) climbed to 33, while the Average Directional Index (ADX) reached 30. Rising +DI alongside an elevated ADX generally indicates that buyers are controlling the prevailing trend.
The Aroon Up indicator remained high at 78, further supporting the view that the upward trend has not yet lost momentum.
If institutional demand continues and LINK holds above the $9 area, the token could make another attempt at $10. A decisive break above that level would strengthen the recovery narrative, while a drop below $9 could weaken the current bullish setup.
Also Read: Chainlink Hits 900,000 Holders: Is LINK Ready for a Breakout Above $8?
Chainlink’s latest advance is being supported by more than price momentum. Renewed ETF inflows, Bitwise accumulation and negative exchange netflows suggest that demand is strengthening behind LINK. With technical indicators also favoring buyers, the $10 level is now the key test for whether Chainlink can extend its recovery.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
