BlackRock

Long

Arthur

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 <h3 id="key-takeaways">Key takeaways</h3>
 <ul>
 <li>NEAR declines as futures traders reduce leveraged exposure</li>
 <li>Open interest approaches $1 billion across derivatives platforms</li>
 <li>Long liquidations raise concerns about another support breakdown</li>
 </ul>
 <a href="https://coincodex.com/crypto/near-protocol/" rel="noopener noreferrer nofollow">NEAR traded around $4.12</a> on November 2, down approximately 6% over 24 hours. The latest decline followed an earlier drop of more than 3%, pushing the token below the $4.30 support area that buyers had attempted to defend over the weekend.
 According to <a href="https://tradradar.io/markets/near" rel="noopener noreferrer nofollow">TradRadar derivatives data</a>, NEAR's open interest stood at approximately $856 million across seven major exchanges, down 6.5% in 24 hours. Broader estimates placed outstanding futures exposure near $1 billion, highlighting the substantial leveraged activity surrounding the token.NEAR Liquidations Accelerate as Open Interest Falls 
 NEAR's recent weakness has been accompanied by a wave of forced closures among bullish derivatives traders.
 TradRadar recorded at least $2.83 million in liquidations over 24 hours, including approximately $2.46 million in long positions and $370,000 in shorts.
 That means long positions accounted for roughly 87% of the reported liquidations, suggesting traders betting on higher prices suffered the greatest immediate losses.
 The derivatives market also remains tilted toward bullish positioning. Across four tracked exchanges, approximately 61% of accounts were long, producing a long-to-short ratio of 1.56.
 However, the declining open interest indicates that leveraged exposure is shrinking rather than continuing to expand.
 The contrast is significant because NEAR previously <a href="https://coinpaper.com/37394/near-price-prediction-token-doubles-in-one-month-outperforming-bitcoin-by-15-times" rel="noopener noreferrer nofollow">doubled in one month</a>, outperforming Bitcoin by approximately 15 times during its October rally.
 That momentum subsequently reversed as broader cryptocurrency markets weakened, leaving NEAR vulnerable to rapid liquidations.&amp;lt;iframe src=”https://widgets.coincodex.com/w/aa677882-cd88-4451-ae51-000302067a50?site=coinpaper&amp;amp;mode=light” width=”100%” height=”420” frameborder=”0” referrerpolicy=”no-referrer-when-downgrade” style=”border:0;background:transparent;border-radius:0px;”&amp;gt;&amp;lt;/iframe&amp;gt;NEAR Price Prediction: Could $4 Support Break? 
 NEAR's immediate technical outlook has weakened following its breakdown below $4.30, a level highlighted during the previous <a href="https://coinpaper.com/38196/near-price-prediction-near-drops-4-as-4-30-support-faces-test-after-october-crash" rel="noopener noreferrer nofollow">NEAR price correction</a>.
 The cryptocurrency now faces support around $4.05–$4.10, followed by the psychologically important $4 threshold.
 Derivatives liquidation estimates also identify concentrated leveraged positions near $4.02, potentially increasing volatility if selling pushes prices below that region.
 A sustained breakdown under $4 would bring the October 30 low near $3.90 into focus. Further weakness could expose $3.70–$3.80.
 On the upside, NEAR first needs to recover above $4.20 before attempting to reclaim $4.30.
 A successful breakout beyond $4.30 could improve short-term sentiment and reopen the path toward $4.50, although falling open interest suggests traders are currently reducing risk.Can Institutional Demand Offset NEAR's Derivatives Weakness? 
 NEAR's decline contrasts with developments across its institutional and cross-chain ecosystem.
 Bitwise previously advanced its <a href="https://coinpaper.com/36343/near-jumped-26-as-bitwise-near-etf-moves-closer-to-sec-approval" rel="noopener noreferrer nofollow">NEAR ETF registration</a>, while Grayscale separately pursued a <a href="https://coinpaper.com/13924/grayscale-files-to-convert-near-trust-into-etf" rel="noopener noreferrer nofollow">NEAR Trust conversion</a>.
 These products could expand access for traditional investors, although institutional exposure does not guarantee stronger token prices.
 Meanwhile, NEAR's <a href="https://coinpaper.com/36763/near-intents-adds-bitcoin-doge-and-xrp-access-through-infinex" rel="noopener noreferrer nofollow">Intents infrastructure</a> has expanded cross-chain access to Bitcoin, XRP and Dogecoin, with reported cumulative transaction volume exceeding $30 billion.
 Even experienced cryptocurrency investors have questioned the sustainability of speculative rallies. BitMEX co-founder Arthur Hayes previously <a href="https://coinpaper.com/17489/why-did-arthur-hayes-dump-all-his-hyperliquid-and-near-holdings" rel="noopener noreferrer nofollow">exited his NEAR holdings</a>, citing macroeconomic and liquidity concerns.
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NEAR Price Prediction: Token Slides 3% as $1 Billion in Leveraged Positions Faces Pressure

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