NEAR Protocol
Why NEAR Protocol is down 1.1% in the last hour
Analysis
NEAR slipped 1.1% over the past hour as broader crypto sentiment weakened alongside Bitcoin, which briefly touched $60K amid heavy spot Bitcoin ETF outflows. Cointelegraph reported $434M in net ETF outflows and noted signs pointing toward potential “capitulation,” which likely pressured altcoins like NEAR in the short term.
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
High confidence in the explanation based on source reliability and timing.