NEAR Protocol
Why NEAR Protocol is down 13.9% today
Analysis
NEAR fell 13.9% over the past 24 hours as broader crypto risk sentiment weakened alongside Bitcoin, which briefly dipped toward $60K amid heavy ETF outflows. Cointelegraph reported Bitcoin ETFs saw about $434M in net redemptions, a backdrop that typically pressures altcoins like NEAR as liquidity and risk appetite contract.
Contributing Factors (3)
Bitcoin ETFs shed $434M as BTC briefly touches $60K, assets near $80B
Net weekly outflows from Bitcoin ETFs reached $690 million as BTC briefly touched $60,000, reigniting analyst criticism over “paper Bitcoin” and scarcity.
Three signs that Bitcoin price is near ‘full capitulation’
Panic selling by short-term holders, extreme fear, and oversold RSI suggested that BTC could be nearing the final phase of capitulation.
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.