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Sadii

06/23 14:19

NEAR dropped 17% amid heavy selling, whale activit

#World Cup Predictions: 100,000 USDT Daily #HTX Invites You to Share 600K USDT in Gift Packs #BTC Prophet: 20-Day 380 Million HTX Challenge NEAR dropped 17% amid heavy selling, whale activity, and weak market sentiment. Price rejected $3 resistance, sliding toward the critical $2.20 support zone under pressure. Traders exited positions as open interest fell and momentum weakened sharply. NEAR Protocol opened the session under intense selling pressure, and momentum faded quickly as sellers took control across multiple timeframes. The token dropped nearly 17% within a few hours, erasing recent recovery attempts and pushing sentiment into a defensive stance. Traders reacted fast as volatility expanded across the altcoin market. Attention shifted even more after reports linked Arthur Hayes to large wallet movements, adding fuel to already fragile conditions. https://twitter.com/Crypto__Haris/status/2068386928492449954 What Triggered the 17% Drop? The decline in NEAR came from a combination of market-wide weakness and rising uncertainty in leveraged trading. On-chain data highlighted wallet activity associated with Arthur Hayes, showing movement of 247,334 HYPE tokens valued near 18 million dollars, alongside undisclosed NEAR exposure. That timing alone triggered emotional reactions across trading desks, especially among short-term participants already sensitive to volatility. At the same time, derivatives data confirmed a clear shift in positioning. Futures volume surged above $2.8 billion, reflecting heavy trading activity during the selloff. However, open interest fell more than 21% to roughly $543 million. That divergence often signals position unwinding rather than new capital entering the market, which usually points toward caution and reduced risk appetite. Price structure also weakened at key technical levels. NEAR faced strong rejection near the $3.00 to $3.10 resistance zone after repeated attempts to build upward momentum. Sellers stepped in aggressivel
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