Chainlink moved lower on Tuesday as its spot exchange-traded fund market recorded its first net outflow after 203 consecutive days without a withdrawal.
LINK traded near $7.58, down about 5% over 24 hours, after falling from an intraday high close to $7.99. The decline pushed the token toward the lower end of its daily range as selling pressure intensified around midday.
Chainlink ETF Ends Long Inflow Run
Data shared by Arca showed the LINK spot ETF complex posting a daily net outflow of approximately $490,920 on June 22.
That reduced cumulative net inflows from about $123.82 million to $123.33 million. Total net assets also fell to roughly $100.88 million, compared with more than $107 million one week earlier.
Analyst data shows the outflow ended 203 days without a negative daily reading. Most recent sessions had recorded either small inflows or no movement, rather than large institutional purchases.
Trading activity also remained limited. Total value traded stood near $697,890 during the outflow session, well below the $8.01 million recorded on June 5.
Notably, the withdrawal represents less than 1% of cumulative inflows. It marks a change in the fund’s flow pattern, though it does not erase the capital accumulated since launch.
LINK Falls Toward $7.50 Support
BraveNewCoin data placed Chainlink at $7.58, with an intraday low of $7.51 and a high of $7.99. Market capitalization stood near $5.67 billion, while reported trading volume exceeded $233 million.
The price chart shows LINK opening near $7.95 before moving gradually lower through the Asian session. Selling accelerated after the price slipped below $7.80, producing a sharper fall toward $7.65.
Another decline around midday pushed the token to approximately $7.50. Buyers later produced a limited rebound, but LINK remained below $7.60 as the session progressed.
The $7.50 area now forms the nearest visible support. A sustained break below it could place the previous consolidation range near $7.30 to $7.40 back in focus.
On the upside, LINK must first recover to $7.65, then face resistance around $7.80. The $8 level remains the stronger psychological barrier after rejecting the latest advance.
Bullish Forecast Contrasts With Current Trend
Meanwhile, Investor Jordan maintained a bullish long-term view, calling LINK one of his highest-conviction holdings and forecasting a possible fivefold to tenfold increase by year-end.
According to the analyst chart, that outlook stands in contrast with the current market structure. The shared one-year chart placed LINK near $7.61, down $5.22, or about 40.7%, across the period.
Short-term price action, therefore, remains weak despite continued optimism from some holders. The immediate market focus is now on whether $7.50 can absorb further selling after the ETF complex recorded its first outflow.