Chainlink defied bearish market sentiment by rising 4% to $25, driven by Bitwise’s ETF filing and the US government’s adoption of LINK oracles.
Chainlink LINK $25.04 24h volatility: 2.4% Market cap: $17.02 B Vol. 24h: $2.75 B price rose 4% to cross the $25 mark on Thursday, August 28, 2025, its highest level since January. Despite the broader crypto market sentiment leaning bearish, where Bitcoin price slid below $110,000 and dragged top altcoins lower, LINK defied market trends this week. Trading as high as $25.50 intraday, Chainlink erased its seven-day timeframe losses, buoyed by a dual catalyst of fresh ecosystem announcements.
Bitwise Files Form S-1 with SEC to List Chainlink Spot ETF | Source: SEC.gov | Aug 26, 2025
After Bitwise filed to launch a spot LINK ETF on Wednesday, market interest intensified on Thursday as the US Department of Commerce (DOC) confirmed it will publish official macroeconomic data on-chain using Chainlink and Pyth Network.
MAJOR NEWS: The U.S. Department of Commerce is working with Chainlink to bring key government economic data onchain ⬇️ https://t.co/OFo9eKbKth pic.twitter.com/6rVFBpeEs5
— Chainlink Everything (@SmartContract) August 28, 2025
The Bureau of Economic Analysis (BEA) will now release critical indicators such as Real GDP, the PCE Price Index, and Real Final Sales to Private Domestic Purchasers directly across multiple blockchain ecosystems.
In its official blog announcement, Chainlink emphasized the transformative potential of this integration: automated trading strategies, composable tokenized assets, real-time prediction markets, and DeFi risk management can now be powered by trusted government data.
Commerce Secretary Howard Lutnick hailed the move as cementing America’s role as the blockchain capital of the world, highlighting 3.3% GDP growth as one of the first data points published on-chain. The BEA data feeds are updated monthly or quarterly and initially deployed across networks such as Ethereum, Arbitrum, Avalanche, Base, Optimism, and ZKsync, with more to come.
“This step shows how government data on-chain can fuel a new wave of transparency, innovation, and adoption,” said Mike Cahill, founder of Douro Labs and core contributor to Pyth.
For Chainlink, the deal represents a milestone in its deepening government ties in 2025, following months of policy discussions with US regulators.
Chainlink Price Forecast: Can Bulls Extend Rally Beyond $27?
Following the intraday rally to seven-month peaks near $26 on Thursday, LINK price now sits just below its short-term resistance cluster around $24.70. The daily chart shows that despite last week’s correction, bulls defended the $23.50 region, a level where both the 13-day SMA and MACD signal line converge, providing the base for the latest breakout.
The MACD histogram has just flipped green again, signaling renewed bullish momentum. Meanwhile, the 5- and 8-day SMAs are curling upward, hinting at a potential bullish crossover if sustained buying continues.
Chainlink Price Forecast | TradingView Aug 28, 2025
If Chainlink price closes above $25.50 and sustains momentum, the next upside targets lie at $27.20 and $29.50, with the latter aligning with February’s local top. A break above $30 could set the stage for a retest of $32, opening the door to a broader continuation rally.
On the downside, failure to hold above $24.20 would weaken the short-term outlook, potentially sending LINK back toward $23.00 support. A deeper slide could retest the $21.50 region, where the 50-day SMA provides stronger technical cushioning.
The technical picture suggests LINK has room to extend gains if buyers maintain pressure. However, with resistance overhead and wider market weakness from Bitcoin weighing on sentiment, strategic traders may wait for a decisive close above $25.50 before betting big on the larger impact of the US Government data partnership with the Chainlink team.
Best Wallet Presale Gains Momentum Amid Chainlink’s Government Data Deal
Chainlink’s landmark US government partnership could significantly boost investor demand for secure multi-chain solutions like Best Wallet (BEST).
Best Wallet Presale
The project has already raised over $15 million in its presale, offering users low transaction fees, attractive staking yields, and priority access to decentralized applications. With built-in multi-chain compatibility, Best Wallet is emerging as a preferred choice for traders navigating between multiple blockchain ecosystems.
With discounted entry tiers still available before the next price increase, early participants can now secure BEST tokens directly via the official Best Wallet site.
next