Chainlink (LINK) has experienced significant downturns, losing over 33% of its value since reaching local peaks in May. The heightened tensions in the Middle East, coupled with increasing macroeconomic uncertainty driven by rising US Treasury yields and a cautious stance from the Federal Reserve, have undermined investor confidence throughout the cryptocurrency markets.
As a result of these challenging conditions, bullish sentiment among investors has waned, leading to a more cautious approach within the crypto sector.
