NAIROBI (CoinChapter.com) —Bitcoin (BTC) remains range-bound with weak volatility, Chainlink (LINK) sees whale accumulation despite price drops, and Toncoin (TON) struggles to break out. Market uncertainty and low momentum define their current trends.
Bitcoin Stagnates Amid Weak Volatility and Market Uncertainty
Bitcoin (BTC) continues to face lackluster momentum as various market indicators signal weakness. According to K33 Research, BTC’s trading volume, yields, and CME futures premium have dropped to levels not seen since before the last U.S. presidential election. The futures premium slipped below 5%, suggesting a potential shift toward a bearish phase.
BTC/USD 1-day price chart. Source: TradingViewA descending channel pattern on BTC’s daily chart suggests continued downside risk. Key resistance levels lie at $100,415 (0.5 Fib) and $102,512 (0.618 Fib), with a breakout potentially targeting $109,302 and $120,286 (1.618 Fib extension).
Despite this, business intelligence firm Strategy (formerly MicroStrategy) remains committed to accumulating BTC. The company announced plans to raise $2 billion through senior convertible notes, with proceeds directed toward Bitcoin purchases. This aligns with Strategy’s 21/21 plan to amass $42 billion worth of BTC over three years.
However, BTC remains trapped in a consolidation range between $94,000 and $100,000, with market uncertainty exacerbated by geopolitical and macroeconomic concerns. According to Bitfinex’s latest Alpha report, Bitcoin’s Inter-Exchange Flow Pulse (IFP) turned bearish for the first time since June 2024, hinting at reduced risk appetite.
Bitcoin IFP chart. Source: CryptoQuantMeanwhile, QCP Capital notes that Bitcoin’s implied volatility continues to decline, mirroring past periods where BTC struggled to break out of a multi-month range.
Chainlink (LINK) Sees Increased Whale Accumulation Despite Price Declines
Chainlink (LINK) has been on a rollercoaster ride. It ranks as the top Real World Assets (RWA) protocol by development but has suffered a 9% drop in price over the past day. LINK currently trades at $17.51, down nearly 70% from its all-time high. Despite this, on-chain data points to strong accumulation by whales, a factor that could provide much-needed price stability.
LINK/USD 1-day price chart. Source: CoinMarketCapAccording to blockchain analytics firm Santiment, top LINK holders have been steadily increasing their holdings since early February. Large investors accumulated 1.6 million LINK between Feb. 3 and Feb. 17, valued at approximately $28 million.
Chainlink whales reduce holdings as price drops. Source: Ali Martinez/XProminent analyst Ali Martinez also reported that 1.1 million LINK ($19 million) was bought by whales in the past 24 hours, signaling long-term confidence in the asset.
Cardano founder Charles Hoskinson also expressed optimism about Chainlink, stating that integrating its oracle solutions is vital for blockchain adoption in traditional finance.
Toncoin (TON) Eyes Breakout as Whale Demand Surges
Toncoin (TON) has remained in a sideways trend between $3.70 and $3.90 for nearly two weeks, but large holders have ramped up their accumulation.
On-chain data from IntoTheBlock indicates that whales have acquired 68 million TON tokens, worth approximately $250 million, since the U.S. Securities and Exchange Commission (SEC) acknowledged the Dogecoin ETF filing on Feb. 14.
Toncoin Large Holder Netflow. Source: TONUSDTThis strong buying activity suggests growing confidence among institutional investors, historically a precursor to price recoveries. If the trend continues, TON could break above its $4.00 resistance and target $4.50 in the coming weeks.
TON’s TVL surges, then drops alongside price. Source: CryptoQuant
While TON’s Total Value Locked (TVL) has declined, staking participation has surged, indicating a shift in investor preference toward stable yield-generating opportunities. The upcoming integration of USDT borrowing on the Factorial Finance protocol further enhances TON’s ecosystem, potentially boosting demand for the asset.
Bitcoin’s weak volatility, Chainlink’s whale accumulation, and Toncoin’s rising investor interest reflect a transition market. While BTC remains range-bound, large investors continue accumulating LINK and TON, hinting at long-term optimism despite short-term uncertainty.
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