The Chainlink price experienced a significant jump of 8.51% to reach $25.1, following Bitcoin's attempt to sustain a position above $100k. This increase in buying pressure suggests the potential for a major breakout for Chainlink, especially amid growing institutional interest.

BlockTower Capital, a well-known crypto investment firm, recently purchased 144,799 LINK tokens worth around $3.44 million, indicating a strategic bet on the utility and growth potential of Chainlink. This acquisition was facilitated through major crypto brokerage platforms.

The current chart analysis shows a formation of a pennant pattern, typically seen in an established uptrend. This suggests a possible breather for buyers, followed by an upside breakout that could result in a 60% surge to reach $40.

Overall, the Chainlink price is showing potential for further upward movement and gaining momentum in a bullish altcoin market.



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