diff --git a/app/javascript/mastodon/actions/compose_typed.ts b/app/javascript/mastodon/actions/compose_typed.ts
index c7bc4ba0c..6b38b25c2 100644
--- a/app/javascript/mastodon/actions/compose_typed.ts
+++ b/app/javascript/mastodon/actions/compose_typed.ts
@@ -14,6 +14,7 @@ import {
 
 import type { ApiQuotePolicy } from '../api_types/quotes';
 import type { Status, StatusVisibility } from '../models/status';
+import type { RootState } from '../store';
 
 import { showAlert } from './alerts';
 import { changeCompose, focusCompose } from './compose';
@@ -212,6 +213,17 @@ export const quoteComposeById = createAppThunk(
   },
 );
 
+const composeStateForbidsLink = (composeState: RootState['compose']) => {
+  return (
+    composeState.get('quoted_status_id') ||
+    composeState.get('is_submitting') ||
+    composeState.get('poll') ||
+    composeState.get('is_uploading') ||
+    composeState.get('id') ||
+    composeState.get('privacy') === 'direct'
+  );
+};
+
 export const pasteLinkCompose = createDataLoadingThunk(
   'compose/pasteLink',
   async ({ url }: { url: string }) => {
@@ -222,16 +234,12 @@ export const pasteLinkCompose = createDataLoadingThunk(
       limit: 2,
     });
   },
-  (data, { dispatch, getState }) => {
+  (data, { dispatch, getState, requestId }) => {
     const composeState = getState().compose;
 
     if (
-      composeState.get('quoted_status_id') ||
-      composeState.get('is_submitting') ||
-      composeState.get('poll') ||
-      composeState.get('is_uploading') ||
-      composeState.get('id') ||
-      composeState.get('privacy') === 'direct'
+      composeStateForbidsLink(composeState) ||
+      composeState.get('fetching_link') !== requestId // Request has been cancelled
     )
       return;
 
@@ -247,6 +255,17 @@ export const pasteLinkCompose = createDataLoadingThunk(
       dispatch(quoteComposeById(data.statuses[0].id));
     }
   },
+  {
+    useLoadingBar: false,
+    condition: (_, { getState }) =>
+      !getState().compose.get('fetching_link') &&
+      !composeStateForbidsLink(getState().compose),
+  },
+);
+
+// Ideally this would cancel the action and the HTTP request, but this is good enough
+export const cancelPasteLinkCompose = createAction(
+  'compose/cancelPasteLinkCompose',
 );
 
 export const quoteComposeCancel = createAction('compose/quoteComposeCancel');
diff --git a/app/javascript/mastodon/features/compose/components/quote_placeholder.tsx b/app/javascript/mastodon/features/compose/components/quote_placeholder.tsx
new file mode 100644
index 000000000..706594e9c
--- /dev/null
+++ b/app/javascript/mastodon/features/compose/components/quote_placeholder.tsx
@@ -0,0 +1,48 @@
+import { useCallback } from 'react';
+import type { FC } from 'react';
+
+import { defineMessages, useIntl } from 'react-intl';
+
+import { cancelPasteLinkCompose } from '@/mastodon/actions/compose_typed';
+import { useAppDispatch } from '@/mastodon/store';
+import CancelFillIcon from '@/material-icons/400-24px/cancel-fill.svg?react';
+import { DisplayName } from 'mastodon/components/display_name';
+import { IconButton } from 'mastodon/components/icon_button';
+import { Skeleton } from 'mastodon/components/skeleton';
+
+const messages = defineMessages({
+  quote_cancel: { id: 'status.quote.cancel', defaultMessage: 'Cancel quote' },
+});
+
+export const QuotePlaceholder: FC = () => {
+  const intl = useIntl();
+  const dispatch = useAppDispatch();
+  const handleQuoteCancel = useCallback(() => {
+    dispatch(cancelPasteLinkCompose());
+  }, [dispatch]);
+
+  return (
+    <div className='status__quote'>
+      <div className='status'>
+        <div className='status__info'>
+          <div className='status__avatar'>
+            <Skeleton width='32px' height='32px' />
+          </div>
+          <div className='status__display-name'>
+            <DisplayName />
+          </div>
+          <IconButton
+            onClick={handleQuoteCancel}
+            className='status__quote-cancel'
+            title={intl.formatMessage(messages.quote_cancel)}
+            icon='cancel-fill'
+            iconComponent={CancelFillIcon}
+          />
+        </div>
+        <div className='status__content'>
+          <Skeleton />
+        </div>
+      </div>
+    </div>
+  );
+};
diff --git a/app/javascript/mastodon/features/compose/components/quoted_post.tsx b/app/javascript/mastodon/features/compose/components/quoted_post.tsx
index f09d6fcd3..8be3c7e62 100644
--- a/app/javascript/mastodon/features/compose/components/quoted_post.tsx
+++ b/app/javascript/mastodon/features/compose/components/quoted_post.tsx
@@ -7,11 +7,17 @@ import { quoteComposeCancel } from '@/mastodon/actions/compose_typed';
 import { QuotedStatus } from '@/mastodon/components/status_quoted';
 import { useAppDispatch, useAppSelector } from '@/mastodon/store';
 
+import { QuotePlaceholder } from './quote_placeholder';
+
 export const ComposeQuotedStatus: FC = () => {
   const quotedStatusId = useAppSelector(
     (state) => state.compose.get('quoted_status_id') as string | null,
   );
 
+  const isFetchingLink = useAppSelector(
+    (state) => !!state.compose.get('fetching_link'),
+  );
+
   const isEditing = useAppSelector((state) => !!state.compose.get('id'));
 
   const quote = useMemo(
@@ -30,7 +36,9 @@ export const ComposeQuotedStatus: FC = () => {
     dispatch(quoteComposeCancel());
   }, [dispatch]);
 
-  if (!quote) {
+  if (isFetchingLink && !quote) {
+    return <QuotePlaceholder />;
+  } else if (!quote) {
     return null;
   }
 
diff --git a/app/javascript/mastodon/reducers/compose.js b/app/javascript/mastodon/reducers/compose.js
index 17b9de5fb..e4cb9ac0e 100644
--- a/app/javascript/mastodon/reducers/compose.js
+++ b/app/javascript/mastodon/reducers/compose.js
@@ -6,6 +6,8 @@ import {
   quoteCompose,
   quoteComposeCancel,
   setComposeQuotePolicy,
+  pasteLinkCompose,
+  cancelPasteLinkCompose,
 } from '@/mastodon/actions/compose_typed';
 import { timelineDelete } from 'mastodon/actions/timelines_typed';
 
@@ -93,6 +95,7 @@ const initialState = ImmutableMap({
   quoted_status_id: null,
   quote_policy: 'public',
   default_quote_policy: 'public', // Set in hydration.
+  fetching_link: null,
 });
 
 const initialPoll = ImmutableMap({
@@ -350,6 +353,12 @@ export const composeReducer = (state = initialState, action) => {
     return state.set('quoted_status_id', null);
   } else if (setComposeQuotePolicy.match(action)) {
     return state.set('quote_policy', action.payload);
+  } else if (pasteLinkCompose.pending.match(action)) {
+    return state.set('fetching_link', action.meta.requestId);
+  } else if (pasteLinkCompose.fulfilled.match(action) || pasteLinkCompose.rejected.match(action)) {
+    return action.meta.requestId === state.get('fetching_link') ? state.set('fetching_link', null) : state;
+  } else if (cancelPasteLinkCompose.match(action)) {
+    return state.set('fetching_link', null);
   }
 
   switch(action.type) {
diff --git a/app/javascript/mastodon/store/typed_functions.ts b/app/javascript/mastodon/store/typed_functions.ts
index 4d7341b0c..5ceb05909 100644
--- a/app/javascript/mastodon/store/typed_functions.ts
+++ b/app/javascript/mastodon/store/typed_functions.ts
@@ -42,7 +42,7 @@ interface AppThunkConfig {
 }
 export type AppThunkApi = Pick<
   GetThunkAPI<AppThunkConfig>,
-  'getState' | 'dispatch'
+  'getState' | 'dispatch' | 'requestId'
 >;
 
 interface AppThunkOptions<Arg> {
@@ -60,7 +60,7 @@ type AppThunk<Arg = void, Returned = void> = (
 
 type AppThunkCreator<Arg = void, Returned = void, ExtraArg = unknown> = (
   arg: Arg,
-  api: AppThunkApi,
+  api: Pick<AppThunkApi, 'getState' | 'dispatch'>,
   extra?: ExtraArg,
 ) => Returned;
 
@@ -143,10 +143,10 @@ export function createAsyncThunk<Arg = void, Returned = void>(
     name,
     async (
       arg: Arg,
-      { getState, dispatch, fulfillWithValue, rejectWithValue },
+      { getState, dispatch, requestId, fulfillWithValue, rejectWithValue },
     ) => {
       try {
-        const result = await creator(arg, { dispatch, getState });
+        const result = await creator(arg, { dispatch, getState, requestId });
 
         return fulfillWithValue(result, {
           useLoadingBar: options.useLoadingBar,
@@ -280,10 +280,11 @@ export function createDataLoadingThunk<
 
   return createAsyncThunk<Args, Returned>(
     name,
-    async (arg, { getState, dispatch }) => {
+    async (arg, { getState, dispatch, requestId }) => {
       const data = await loadData(arg, {
         dispatch,
         getState,
+        requestId,
       });
 
       if (!onData) return data as Returned;
@@ -291,6 +292,7 @@ export function createDataLoadingThunk<
       const result = await onData(data, {
         dispatch,
         getState,
+        requestId,
         discardLoadData: discardLoadDataInPayload,
         actionArg: arg,
       });