DarkNaigh77
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#MarketRebound Analysis: Why is Polkadot Falling Sharply and How Feasible is a Recovery?.
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Polkadot (DOT) is going through a delicate moment in the market, with strong bearish pressure on its price.
$DOT
DOT
3.449
+6.54%
#NEWTBinanceHODLer
At the time of writing, DOT is trading at 3.26 USD, with a daily gain of 2.48%, but with losses of 16.9% for the week and 28.78% for the last month.
DOT has thus marked new annual lows after falling to 3.03 USD, which has raised concerns among analysts and investors.
What is driving the decline in DOT's price?
#BinanceTGEXNY
The bearish pressure on DOT is closely linked to the widespread decline of the crypto market, led by the loss of support at 100,000 USD in Bitcoin (although we later saw a recovery).
Additionally, there is growing global uncertainty stemming from the conflict in the Middle East, particularly between Iran and Israel, which has heightened fears about the economic impact on energy prices.
On the other hand, the trading volume in DOT fell at its worst moment by up to 44.97%, standing at 132.22 million dollars, indicating a significant decrease in activity, rather than a wave of massive selling. This reduction suggests a decline in interest from investors.
#BinanceAlphaAlert #BTCbelow100k
$BTC
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Polkadot (DOT) is going through a delicate moment in the market, with strong bearish pressure on its price.
$DOT
DOT
3.449
+6.54%
#NEWTBinanceHODLer
At the time of writing, DOT is trading at 3.26 USD, with a daily gain of 2.48%, but with losses of 16.9% for the week and 28.78% for the last month.
DOT has thus marked new annual lows after falling to 3.03 USD, which has raised concerns among analysts and investors.
What is driving the decline in DOT's price?
#BinanceTGEXNY
The bearish pressure on DOT is closely linked to the widespread decline of the crypto market, led by the loss of support at 100,000 USD in Bitcoin (although we later saw a recovery).
Additionally, there is growing global uncertainty stemming from the conflict in the Middle East, particularly between Iran and Israel, which has heightened fears about the economic impact on energy prices.
On the other hand, the trading volume in DOT fell at its worst moment by up to 44.97%, standing at 132.22 million dollars, indicating a significant decrease in activity, rather than a wave of massive selling. This reduction suggests a decline in interest from investors.
#BinanceAlphaAlert #BTCbelow100k
$BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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