NEAR Protocol
Why NEAR Protocol is down 4.2% today
Analysis
NEAR Protocol (NEAR) fell 4.2% over the past 24 hours amid a broader market backdrop where attention shifted toward bitcoin-linked equities rather than altcoins. CoinDesk reported that JPMorgan sees January’s rally improving the near-term outlook for bitcoin mining stocks, which may have concentrated flows in BTC-related names and weighed on risk appetite for assets like NEAR.
Contributing Factors (1)
January rally bolsters near-term outlook for bitcoin mining stocks, JPMorgan says
Shares of mining companies rose last month despite softer bitcoin prices as storms cut the network hashrate and AI optimism grew, the bank said.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.