NEAR Protocol Drops Below $5 Following $20 Million Long Squeeze

NEAR Protocol's bullish trend faltered as the altcoin fell below the $5 support level to a low of $4.60, driven by a $20 million long liquidation event. While derivatives data shows a risk-off sentiment with a 12.3% drop in Open Interest, spot market activity suggests some investors are accumulating at lower prices, with net outflows reaching their lowest point since June.