The Chainlink price prediction narrative turned bearish this week after LINK slid more than 7%, showing the current bearish sentiment across crypto markets. Nearly $100 billion was wiped from total market capitalization on January 25 as uncertainty around a potential partial US government shutdown pushed traders to sell, eventually clouding the short-term Chainlink price forecast.
Crypto markets lose roughly $100B as political uncertainty spooks traders
The cryptocurrency ecosystem saw a sharp pullback over the weekend, with nearly $100 billion wiped off total market capitalization as traders reacted to mounting political uncertainty in the United States. Data showed the overall crypto market cap fell from around $2.97 trillion to about $2.87 trillion in just 6 hours on January 25.
Market participants largely blamed fears of a looming partial U.S. government shutdown after Senate Democrats signaled they would block an appropriations package that included funding for the Department of Homeland Security, heightening concerns about political gridlock in Washington. That uncertainty rippled quickly through risk assets, weighing on investor sentiment.
Chainlink price prediction: LINK records 8% decline as the market continues bearish movement
The Chainlink price prediction has taken a hard hit this week, with LINK sliding 8%. Between January 20 and January 26, the token dropped from $12.77 to $11.79 as the market sentiment continued its bearish trend.
LINK was already under pressure after breaking below key technical supports, and with bearish indicators dominating most models, declines have been the dominant theme in oracle token market trends.
Even though Chainlink remains a foundational oracle provider with real usage and long-term potential, the immediate Chainlink price prediction appears cautious as sellers outnumber buyers and momentum indicators stay weak.
Cardano whales search for alternatives as ADA drops 5%
Cardano’s price has pulled back again as ADA slid 5% over the past week, falling from $0.37 on January 20 to $0.34 by January 26. Technical indicators show the token trading below multiple moving averages with bearish momentum still in control, and despite recent whale buying, the token has struggled to stay in the green zone.
Conclusion
The current Chainlink price prediction shows a market struggling to regain momentum, with LINK and other altcoins weighed down by the bearish market sentiment. Now, many traders are looking towards early-stage opportunities with the potential for huge growth.
