Chainlink’s Open Interest Surges to Three-Month High:
Chainlink’s (LINK) open interest has risen to a three-month high of $206 million, according to Coinglass. However, this spike in OI has often preceded a fall in LINK’s prices. The last time LINK’s OI was at this level on 22 July, the altcoin’s price dropped by 45% within just two weeks. In late September, LINK’s OI shot up to a two-month high again, before the price dropped by nearly 20%. Therefore, if Chain link follows its historical trends, a bearish sentiment could soon come into play.
