$LINK faced a long liquidation of $9.5752K at $12.441, signaling a strong rejection of leveraged bullish positions near this price zone. The size of this liquidation highlights how confident traders were in upside continuation before momentum faded. When a major asset like Chainlink sees longs flushed at this scale, it often reflects short-term exhaustion rather than long-term weakness. This event likely cleared aggressive leverage, allowing price to breathe. Going forward, $LINK’s next move will depend on whether spot buyers step in to defend structure or allow further consolidation to unfold.
