Link was established at the previous BTC cycle peak in 2017. It then went on to rise 100X and peaked roughly at the BTC halving in August 2020. This is when the BTC bull market began and LINK/BTC price in this chart shows it has dipped since then. My advise to bitcoin investors such as myself is to hold LINK in a BTC bear market and accumulate BTC till the BTC dip and then switch back to BTC thereby hedging against BTC bull market.
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I would suggest then this will reach a minimum at bcc cycle peak around sept/oct at which point selling etc and transferring into link for the bear market would be advisable to accumulate bitcoin
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So BTC has been roughly flat since Feb so we might see some accumulation from LINK. Will need to wait until more rocket ship BTC growth to see if this reduces LINK/BTC price pair