NEAR Protocol
Why NEAR Protocol is up 8.8% today
Analysis
NEAR Protocol (NEAR) rose 8.8% over the past 24 hours as broader crypto sentiment stabilized despite Bitcoin volatility, with traders rotating into altcoins. Cointelegraph reported significant Bitcoin ETF outflows ($434M) alongside BTC briefly touching $60K, and separately highlighted signs BTC may be near “full capitulation,” which can coincide with bargain-hunting and risk-on rebounds across the market that lift majors like NEAR.
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.