Chainlink and Solana lead altcoin momentum amid Bitcoin ETF outflows

The cryptocurrency market is experiencing divergent trends among major assets. Chainlink (LINK) has demonstrated significant strength, posting a weekly rally of over 13% and breaking through key resistance levels near $9. This surge is supported by increased trading volume, rising futures open interest, and growing whale activity, with large holders controlling nearly 46.57% of the total supply.

Other altcoins are also showing momentum. Solana (SOL) has seen high ETF inflows, while Render (RNDR) is benefiting from AI-driven demand for decentralized GPU computing. Meanwhile, BNB is testing the $600 resistance level, supported by growth in tokenized stocks on the BNB Chain.

In contrast, Bitcoin (BTC) and Ethereum (ETH) have faced recent headwinds. US spot Bitcoin ETFs recorded significant weekly outflows, and Ethereum ETFs ended a five-week inflow streak. The broader market remains sensitive to macroeconomic factors and geopolitical tensions, including developments in the Middle East.