NEAR Protocol
Why NEAR Protocol is up 11.8% today
Analysis
NEAR rose 11.8% over the past 24 hours as broader crypto market sentiment appeared to stabilize after a sharp risk-off move tied to Bitcoin’s dip toward $60K and heavy ETF outflows. Cointelegraph reported Bitcoin ETFs saw $434M in net outflows even as total ETF assets hovered near $80B, and also highlighted “capitulation” signals that can coincide with short-term rebounds across major altcoins 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.