Confluence thread spike and grinds to a halt with Link Preview plugin enabled

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Platform Notice: Server and Data Center Only - This article only applies to Atlassian products on the server and data center platforms.

Problem

Confluence thread spikes randomly, and Confluence seems to grind to a halt. Thread dumps taken 1 minute apart shows the following long running thread:

com.xpandit.confluence.plugins.link.preview.rest.LinkResolver.retrieveType(LinkResolver.java:67)

Diagnosis

1. Take 3 external thread dumps spaced 1 minute apart, during the thread spike: Generating a Thread Dump Externally
2. Analyze the thread dumps using tools such as TDA: https://java.net/projects/tda
3. Look for long running threads that are in the "Runnable" state. This KB applies to you if you see threads such as the one highlighted above

Cause

Disable the said plugin via Confluence Admin >> Manage Add-Ons