NEAR Tests $4.30-$4.60 Support as Derivatives Activity Cools

NEAR Protocol (NEAR) fell about 10% in the 24 hours through 11 a.m. ET Oct. 29, putting its $4.30-$4.60 daily-chart zone under pressure as crypto markets weakened after Bitcoin (BTC) dropped below $80,000. NEAR traded below its 20-day and 50-day exponential moving averages. Its open-interest reading of $807.46 million points to weaker derivatives participation and fewer leveraged positions. The funding rate fell to 0.003% after several weeks of positive readings. That decline may reflect either reduced demand for leveraged long positions or increased bearish sentiment. The rate alone does not distinguish between those explanations.