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NEAR NEAR跌破5美元关口：2000万美元多头清算引发市场震荡
在经历了一波高达2000万美元的多头清算事件后，NEAR价格跌至5美元以下。随着交易者主动降低风险敞口，未平仓合约量（Open Interest）出现显著下滑。与此同时，“逢低买入”的资金大量入场，为价格在5美元上方实现复苏带来了希望。
NEAR协议在失去关键支撑区域后，进入了一段充满风险的调整期。此次跌破5美元的心理关口令许多交易者措手不及，并引发了衍生品市场的巨额清算。尽管杠杆投资者陷入恐慌情绪，但另一部分投资者却将其视为机会，开始积极建仓抄底。目前，市场面临着一个至关重要的问题：买方能否重新掌控局面，还是抛售压力将在未来几天内将NEAR推向更低的位置？
2000万美元多头挤压动摇市场信心
随着整个加密货币市场整体回调，NEAR价格大幅下挫。该代币跌破了重要的5美元支撑位，最低触及约4.60美元。截至撰写本报告时，NEAR交易价格约为4.70美元，日内跌幅接近8%。在抛售期间，交易活动明显增加。现货交易量攀升19%，达到16.2亿美元。在价格下跌过程中交易量上升，通常意味着卖压增强。
As market sentiment wanes, traders seem eager to reduce risk. The biggest focus is on the derivatives market. According to CoinGlass data, more than $20 million of long positions were liquidated. Such events occur when a leveraged trader is forced to close his position because the price movement is contrary to his bet. Large-scale liquidations often have a ripple effect: falling prices trigger forced selling, which further lowers prices, and fear spreads among market participants, prompting more people to opt out.
Several technical indicators also reflect this shift in sentiment. Open interest volume fell 12.3% to US$1.4 billion, while derivatives trading volume increased 12% to nearly US$3 billion.
Bargain-hunting buyers enter, bulls try to defend trend
Despite the weak performance of the derivatives market, spot investors showed a completely different attitude. Many traders view the decline as a buying opportunity rather than a reason to panic. Spot market data supports this view. On September 28, NEAR recorded a net spot inflow (Spot Netflow) of-28 million, the lowest reading since June. A negative net inflow means that investors withdraw more tokens from the exchange than they deposit.
This behavior usually indicates that the market is in an accumulation stage rather than preparing to sell. Continued outflows can reduce the available supply in the market and help stabilize prices. There are mixed signals on the technical side: the Relative Strength Index (RSI) has recently formed a bearish cross and fell back to 68, indicating that buying momentum has weakened. However, the indicator remains in bullish territory.
Although the seller has a certain advantage, the buyer still retains important influence on the overall trend. The current situation suggests that volatility may persist. If derivatives traders continue to reduce their positions, NEAR could slip into the support area of $4.40. On the other hand, strong spot demand may absorb selling pressure. Continued accumulation helps buyers regain momentum and push the token back above $5.
