NEAR Protocol
Why NEAR Protocol is down 1.8% in the last hour
Analysis
NEAR Protocol (NEAR) dipped 1.8% over the past hour as market attention rotated toward bitcoin-linked equities following JPMorgan’s note highlighting an improved near-term outlook for bitcoin mining stocks after January’s rally. That shift in focus can weigh on altcoins in the short term as capital and sentiment concentrate on BTC-related plays.
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.