Polkadot Slumps as Bears Break Key Support at $2.87

Why It Matters

The breach signals heightened institutional selling pressure on DOT, raising concerns about short‑term liquidity and price stability for investors. A sustained drop could spill over to the wider crypto market, influencing sentiment and risk appetite across digital assets.

Summary

Polkadot (DOT) fell 12% on Monday, dropping to $2.56 after a 5.49‑million‑token sell‑off shattered the $2.87 support level. Institutional‑sized orders triggered extreme volatility, pushing the price from a session high of $2.99 to the low of $2.56. The broader crypto market also weakened, with the CoinDesk 20 index down 6%. Technical analysis points to the next upside target at $2.80‑$2.82, while the broken $2.87 zone now serves as a key reclaim threshold.