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🔵 Chainlink – Why another 10% drop for LINK’s price is likely in the short-term Following a 12% price drop, Chainlink’s native token lost a crucial support level at $14.85. This level was where 17,000 investors and long-term holders accumulated 73.5 million $LINK tokens. Now, their holdings have turned red, according to the on-chain analytics firm IntoTheBlock. 🔸 75% of LINK investors see red After the loss of the $14.85-level, LINK has paved the way for a further price drop on the charts. In fact, at press time, the crypto was trading near $13.80, having declined by 12% in the last 24 hours. However, during the same period, its trading volume dropped by 15% – A sign of lower participation from investors and traders compared to the previous day. Owing to the aforementioned updates, only 24.96% of LINK holders are now in the money. On the contrary, the percentage of investors in the red and facing losses has surged to 74.74%.  🔸 Chainlink (LINK) price action and key levels According to AMBCrypto’s technical analysis, LINK may be poised for further downside momentum after breaking out of its three-day-long consolidation between $15.85 and $14.85. Based on its recent price action and historical patterns, if the asset closes a daily candle below the $13.80-mark, there is a strong possibility it could drop by another 10% to hit the $12.20-level in the near future. Thanks to its sustained price drop, LINK may be unable to move above the 200 Exponential Moving Average (EMA) on the daily timeframe. This indicated that the asset may be on a downtrend. Here, it’s worth noting that the 200 EMA is a technical indicator used to determine whether an asset is on an uptrend or a downtrend. 🔸 Intraday traders’ bearish nature The biggest evidence of the altcoin’s bearish outlook is the fact that intraday traders betting on short positions are currently dominant. Their numbers are rising significantly too, especially since more of them believe the crypto’s price won’t soar or recover soon. According to the on-chain analytics firm Coinglass, $14.82 is the level where traders holding short positions are over-leveraged, having built nearly $10.16 million worth of short positions. Meanwhile, traders betting on long positions might be exhausted, with over-leveraging at $13, where they have built only $4.26 million worth of long positions. These over-leveraged positions reflect the true nature of market sentiment. Hence, there is a strong possibility that short traders could easily push the price to $13 or even lower by liquidating long positions.

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The Montana House of Representatives has officially rejected a proposal to establish a Bitcoin reserve, dealing a blow to efforts aimed at integrating Bitcoin ($BTC ) into state-level financial strategies. This decision raises questions about the future of Bitcoin adoption in the U.S. Why Did Montana Reject Bitcoin Reserves? 1. Regulatory Uncertainty: Governments remain cautious about embracing Bitcoin due to its volatility and lack of centralized control. 2. Financial Risks: Holding BTC as a state reserve introduces potential price fluctuations that could impact financial stability. 3. Opposition from Traditional Finance: Many policymakers still favor traditional financial systems over crypto-based reserves. What Does This Mean for Bitcoin’s Future? Despite this setback, Bitcoin adoption continues to grow globally. While some governments hesitate, others, like El Salvador, have fully embraced BTC as a national asset. The rejection in Montana highlights the challenges crypto faces in gaining mainstream acceptance at the state level.

The recent decision by U.S. President Donald Trump to implement tariff hikes on goods from Mexico and Canada has created ripples across financial markets. While traditional sectors brace for potential economic slowdowns, many are wondering how this move will impact the cryptocurrency market, particularly Bitcoin ($BTC ). Why Could Tariffs Affect Crypto? 1. Increased Inflation Risk: Higher tariffs often lead to higher consumer prices. As the cost of goods rises, people may turn to Bitcoin as a hedge against inflation, similar to how they do with gold. 2. Market Uncertainty: Stock markets typically react negatively to trade tensions, which could drive investors to seek alternative assets like BTC and other cryptocurrencies. 3. Stronger Dollar, Weaker Crypto? If tariffs strengthen the U.S. dollar, Bitcoin and altcoins might face short-term downward pressure as investors prefer fiat over volatile digital assets. 4. Regulatory Changes: Tariff hikes might lead to stricter financial regulations, potentially impacting crypto businesses involved in international trade. Short-Term vs. Long-Term Outlook In the short term, Bitcoin’s price may see volatility as investors react to changing economic conditions. However, long-term trends suggest that economic uncertainty and inflation concerns could boost Bitcoin adoption as a decentralized, borderless asset. What do you think? Will tariffs push Bitcoin higher or cause a temporary dip? Let’s discuss in the comments!

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