NEAR Protocol
Why NEAR Protocol is up 4.2% today
Analysis
NEAR rose 4.2% over the past 24 hours as broader crypto sentiment stabilized despite volatility in Bitcoin, with traders watching signs that BTC may be nearing “full capitulation,” which can prompt selective risk-on rebounds across altcoins. At the same time, heavy Bitcoin ETF outflows ($434M) and BTC briefly dipping toward $60K highlighted macro pressure, but NEAR still outperformed during the move.
Contributing Factors (2)
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.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.