Chainlink (LINK) is experiencing bearish pressure as significant whale selling has led to a price drop from $27 in August to nearly $15 by early November. Whale outflows have decreased holdings from 2.59 million LINK to 1.87 million, indicating strategic profit-taking. Technical indicators, including an inverse cup-and-handle pattern and a death cross, suggest potential further declines. Despite the current downturn, Chainlink continues to secure institutional partnerships and maintain stable developer activity, suggesting potential long-term resilience. Meanwhile, the DeFi sector has seen a reduction in total value locked, falling from over $1.1 billion to $650 million.