Chainlink (LINK) Price: Hong Kong CBDC Integration Sparks Fresh Bullish Interest

TLDR

LINK trading at $13.86-$14.06 with volatility dropping to 60.80%, signaling potential price move ahead Chainlink powers cross-border digital currency exchange between Hong Kong CBDC and Australian stablecoin Derivatives volume surged 28.25% to $621.23 million while Open Interest grew 3.02% to $587.42 million Dense liquidation clusters between $14.10-$14.49 could trigger breakout squeeze if resistance breaks Technical analysis shows V-shaped recovery pattern with Fibonacci resistance at $15.22

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Chainlink has captured attention as its native token LINK approaches a critical price juncture while the protocol expands into cross-border central bank digital currency applications.

Chainklink (LINK) Price

LINK currently trades around $13.86 to $14.06, showing modest gains of nearly 2% following news of its involvement in a Hong Kong CBDC pilot program. The token has formed a potential V-shaped recovery pattern after bouncing from major support at $12.64.

We’re excited to share that Chainlink is facilitating the secure exchange of a Hong Kong CBDC and an Australian dollar stablecoin as part of an ongoing use case in Phase 2 of the e-HKD+ Pilot Program.

Congratulations to participants @Visa, ANZ, China AMC, and Fidelity… pic.twitter.com/ts2C6Vt4Ul

— Chainlink (@chainlink) June 9, 2025

The cryptocurrency’s 30-day volatility has compressed to 60.80% on June 9, down from a recent high of 81.11%. This tightening typically precedes strong directional moves in either direction.

Technical indicators suggest LINK is building toward a breakout attempt. The token must clear resistance at $14.10 to trigger the next upward wave, with Fibonacci analysis pointing to $15.22 as the 0.618 retracement target.

Cross-Border Payment Infrastructure Gains Traction

Chainlink’s Cross-Chain Interoperability Protocol has been selected to facilitate exchange between Hong Kong’s e-HKD central bank digital currency and Australia’s A$DC stablecoin. The pilot represents phase two of Hong Kong’s CBDC project.

The initiative involves major financial players including Visa, ANZ, Fidelity International, and ChinaAMC. Chainlink’s infrastructure will handle Payment-versus-Payment mechanisms for digital currency swaps while ensuring compliance across multiple jurisdictions.

The protocol’s Digital Transfer Agent solutions will enable multichain fund operations. Chainlink plans to expand its involvement by extending the PvP workflow across the entire transaction lifecycle.

Derivatives Activity Shows Increased Speculation

Trading metrics reveal growing speculative interest in LINK. Derivatives volume jumped 28.25% to $621.23 million while Open Interest climbed 3.02% to $587.42 million.

The steady rise in Open Interest combined with surging volume indicates new leveraged positions are being opened rather than closed. This suggests traders are positioning for potential price movement.

Exchange netflow data shows +36.286K LINK added to exchanges, representing a 4.54% increase in reserve balances. This could indicate either sell-side pressure or strategic positioning ahead of volatility.

Source: CryptoQuant

Transaction analysis reveals a shift toward retail participation. Transactions in the $0-$1 range surged 695.40% while larger brackets saw double-digit declines. This pattern shows whale participants remain on the sidelines.

Retail-driven movements tend to be more volatile and shorter-lived unless supported by institutional holders. The current structure suggests momentum depends on broader market conditions.

Liquidation data reveals dense clusters between $14.10 and $14.49 where short positions face forced closure. A breakout above $14.10 could trigger cascading liquidations that amplify upward momentum.

The liquidation heatmap aligns with technical resistance levels. If bulls maintain pressure through these zones, LINK could accelerate toward $16 based on current positioning.

Source: TradingView

Market structure remains bullish unless support at $12.64 breaks. The higher low formation suggests upward bias continues in the near term.

Current sentiment indicators point toward building confidence among both retail and institutional participants. The combination of technical setup and derivatives positioning creates conditions for potential volatility expansion.

LINK’s price action will likely depend on clearing the $14.10-$14.49 resistance cluster while maintaining support above $12.64.

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