NEAR Protocol
Why NEAR Protocol is down 5.7% today
Analysis
NEAR Protocol (NEAR) fell 5.7% over the past 24 hours as crypto market attention shifted toward bitcoin-linked equities, following JPMorgan’s note that January’s rally improved the near-term outlook for bitcoin mining stocks. That narrative can draw incremental risk appetite and flows toward BTC-adjacent plays rather than altcoins like NEAR, weighing on its short-term performance.
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.