TL;DR:
- Near Protocol (NEAR) posted a 13% gain in 24 hours with a trading volume above $1.1 billion, an 81% increase compared to the previous session.
- Bitcoin fell below $70,000 for the first time in eight weeks and triggered $728 million in liquidations across leveraged positions.
- Worldcoin and Internet Computer also rose 11% and 12% respectively, while the broader market held a markedly bearish bias.
While the crypto market recorded massive liquidations and Bitcoin broke through key psychological levels, NEAR Protocol decoupled from the rest with a 13% gain in the last 24 hours. The token is currently trading at $2.68 according to CoinMarketCap data, with volume surpassing $1.1 billion, representing an 81% increase from the previous session.
Bitcoin’s drop below $70,000 —its lowest level in eight weeks— led to the liquidation of $728 million in leveraged positions, according to CoinGlass. The price touched a local low of $69,034, accumulating a decline of over 4% on the day. Tim Sun, senior researcher at HashKey Group, explained that the pressure on Bitcoin responds to the rise in U.S. Treasury yields and the liquidity absorption effect generated by the artificial intelligence boom. “This has left the crypto market relatively weak due to a lack of new narratives and solid capital flows,” Sun stated.
The Decoupling of Assets with Their Own Narrative
Against that backdrop, analysts attribute Near Protocol (NEAR)’s gains to its developments linked to privacy and artificial intelligence. Worldcoin, which rose 11% to $0.4215 with a volume of over $900 million, has its own catalysts: large holder purchases, derivatives interest and adoption use cases such as live event ticket sales through World ID. Internet Computer, meanwhile, posted a gain of nearly 12%.
NEAR Grows on Its Privacy and AI Projects
Andri Fauzan Adziima, research director at the Bitrue Research Institute, argued that these gains do not respond to random factors. “Capital is rotating strongly toward narratives with real utility, yield or technological edge,” he stated. Sun, along the same lines, noted that the crypto industry is increasingly concentrating capital in assets with clear narratives, real cash flows and healthy supply structures.
Looking ahead to the coming days, the current outlook offers no signs of recovery. The macroeconomic deterioration, capital outflows from Bitcoin ETFs and geopolitical tension are keeping risk appetite at minimum levels. “Even if a bounce occurs, we believe that sideways and relatively weak consolidation is the most likely scenario,” Sun concluded.
