Bitcoin (BTC) just crossed the $ 7,000 threshold earlier today, however, the latest bull run of the entire crypto market may be because Chainlink (LINK) has performed impressively and pulled back confidence. for other trading pairs.
Data on the chain shows that this cryptocurrency has gradually broken the trend of correlation with Bitcoin, which also happened before the currency made strong breakthroughs.
At the time of writing, Chainlink price increased by 12% to reach $ 3.55. This is a very impressive jump if you know that yesterday the coin only cost $ 3.1.
This rally also extended the leap cycle of the digital currency, after Link hit the bottom of April at $ 2.25 last weekend.
In the short term, it is likely that the cryptocurrency will continue to break out again with the passing of the upward triangle.
An analyst on Twitter whose account name is Teddy said, after confirming the bullish model, Chainlink jumped 45%:
"The trend is still there and the correction is yet to occur. Now it's a 45% spike from the resistance of the upward triangle."
LINK is separate from the trend of Bitcoin
One interesting thing that investors need to pay attention to is that Chainlink is currently showing signs of separation from Bitcoin, the previous sign has caused the coin to skyrocket.
According to on-chain data from IntoTheBlock, the correlation between Link and Bitcoin has plummeted over the past two weeks, and the trend is now becoming more apparent.
Another point is that LINK is in a much better shape than Bitcoin and if based on the graph above, every time separating yourself from BTC, Link often has very strong breakthroughs afterwards.
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According to Coin68 / CryptoSlate