NEAR Rally Continues as Bitcoin Holds Steady Above $83,000

Bitcoin (BTC) held steady above $83,000 on Thursday after a brief bout of volatility ahead of the monthly and third-quarter close. Data from Coinbase showed the BTC/USD pair flat on the day.

NEAR Protocol (NEAR) continued its rally, gaining 3% on Thursday after a 9% rise the previous day. The launch of the Bitwise Exchange-Traded Fund (ETF) focused on NEAR on Tuesday saw nearly $50 million in inflows in two trading sessions, indicating strong demand.

The technical outlook for NEAR suggests an upside bias, despite concerns about overbought conditions. Momentum remains bullish, with the launch of the Bitwise ETF reinforcing the bullish outlook.

Bitcoin and other cryptocurrencies struggled to regain momentum amid returning ETF outflows. BTC trades between $82,500 and $85,000, with bulls pushing for a breakout toward the upper range limit.