Chainlink price at risk of further decline as 200 largest addresses sit on unrealized profits

• In October, the 200 largest wallet addresses in the Chainlink ecosystem acquired 40.18 million LINK tokens.
• These large wallet investors accumulated LINK at $7.40, and the price of the altcoin has nearly doubled in the past month.
• However, there are indications that the LINK price may correct lower due to bearish divergence in on-chain metrics.
• The LINK price is currently in an uptrend that started in September, but there is a likelihood of further decline in the near term.
• The wallets holding Chainlink tokens have not yet sold their holdings, but there is an increased chance of profit-taking in the future.
• On-chain metrics, such as active addresses and network realized profit/loss, support the bearish scenario.
• The exchange flow balance indicates that there is incoming selling pressure on the asset, which could result in a decline in price.

The sentiment of the article is mostly bearish, suggesting that the Chainlink price may correct lower in the near future.