The on-chain movements for ChainLink (LINK) suggest a bearish trend as some investors are looking to take profits or offset losses. Despite a bullish September, LINK has experienced a sharp fall in October. The number of daily active addresses in profit has increased, indicating that some investors are taking profits amid high price volatility. However, the number of addresses in loss has also increased, suggesting that long-term holders may be offsetting their losses. This could potentially lead to a selloff in LINK's bullish momentum. Additionally, the rise in whale transactions and trading volume may contribute to high price volatility. At the time of writing, LINK is trading at $11.78 with a market cap of $7.38 billion.



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