Spaces in link definitions?

I’d be really surprised if this was not discussed, but couldn’t find
anything so: is it specified that spaces in link definitions are
collapsed? It does say that case is ignored, but is this:

* blah [x y] blah
* blah [x    y] blah
* blah [x
  y] blah

[x y]:

always going to work? I originally thought that maybe the rule is that
the “normalized” contents is used, but then this doesn’t work:

* blah [`x`] blah
* blah [``x``] blah


So I’m confused…

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