Chainlink's price has dropped below $11, breaking a two-month consolidation range, despite positive developments such as institutional ETF inflows and a strategic partnership with Turtle Protocol. The partnership aims to enhance institutional liquidity onchain, utilizing Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Data Feeds. Despite these advancements, Chainlink's price fell to approximately $10.83, moving below the $12-$15 range it maintained for two months. Institutional confidence in Chainlink remains strong, as evidenced by $74.56 million in net inflows into Chainlink ETFs, with $1.4 million recorded on January 29 alone. However, the spot price continues to decline, breaking through key support levels and major exponential moving averages, indicating a bearish market structure. While the Relative Strength Index (RSI) suggests oversold conditions, a price reversal is not guaranteed, and the outlook remains bearish unless broader market sentiment improves.