Chainlink (LINK) is holding above its long-term average after a sharp rally from June lows, and widely followed analyst Michael van de Poppe says the token is outperforming Bitcoin despite remaining in the early stages of its recovery. LINK climbed from lows near $7 to roughly $15.60 before pulling back toward $14.20, leaving $14.53 as the key level to watch.

The advance coincides with a Chainlink announcement that more than $15 billion is migrating to Chainlink CCIP, the company's Cross-Chain Interoperability Protocol built as institutional-grade cross-chain infrastructure.

Van de Poppe: LINK Outperforming Bitcoin

In a post on X, van de Poppe said LINK has barely moved yet, even as it gains against Bitcoin and outperforms the leading cryptocurrency. He added that Chainlink is emerging from a bear market that has lasted more than four years.

LINK's price structure reflects a strong recovery from its June lows. The token traded around $7.05 to $8.00 before momentum improved through July. Further advances followed in August, when LINK broke above $9.19, and the token then moved through $10.26 and $11.33 before extending higher during September. That rally carried LINK above $12.39 before it reached approximately $15.60.

Chainlink Reports $15 Billion Migration to CCIP

Chainlink operates a decentralized oracle network that delivers off-chain data and cross-chain services to blockchains and financial institutions. According to the company's announcement, more than $15 billion is migrating to Chainlink CCIP as leading teams upgrade their cross-chain infrastructure. The scale of that figure matters because tokenized assets can exist on multiple blockchains at once, which makes cross-chain infrastructure a foundational layer for institutions rather than an optional add-on.

Chainlink also said CCIP 2.0 allows institutions to distribute tokenized assets across networks through a single standard. The company described the system as designed for global-scale tokenized asset distribution.

LINK Tests $14.53 After Recent Rally

Market data from Santiment provides another view of LINK's recent move. The token currently trades near $14.20 after retreating from its recent peak. Resistance sits between $15.00 and $15.60, while $14.53 marks the nearest important level. Below that level, support appears around $13.46, followed by $12.67.

The 50-day moving average is near $14.53, while the 200-day average remains around $12.67. LINK continues to trade above its 200-day average, though its position near the 50-day average leaves its short-term direction under pressure. The 200-day line is commonly read as a long-term trend gauge, so the gap between it and the 50-day average gives readers a simple way to see the tension between the longer recovery and the recent pullback.

Volume expanded during August and September breakout, with the latest reading near 228.08 million LINK. Holding $14.53 could keep the recent $15.60 peak within reach, while losing that level could expose $13.46 and then $12.67. Beyond the charts, the pace of the reported CCIP migration offers a protocol-level metric to follow as more details of the migration emerge.