Over the past week, Polkadot has seen significant price fluctuations amidst a broader market downturn, with the crypto market cap dipping 3.9% to $2.34 trillion, a five-week low. Polkadot’s price has declined notably by 10.07% to $5.71. This drop is a reflection of wider market apprehensions, stirred by global economic uncertainties and speculations about the peak performance of the U.S. economy.
This downturn is also tied to a substantial market sell-off, initially thought to be triggered by a major Bitcoin sale by the German government. However, this speculation shifted when MicroStrategy stepped in with a significant Bitcoin purchase, lessening the blow. Over the last month, DOT’s value has plummeted over 20%, highlighting the acute sensitivity of altcoins to market trends. Currently, DOT is trading at $5.68, marking a 1.10% decrease in the last 24 hours, which underscores the persistent volatility in the crypto world.
