- ICP price fell from $5.75 amid heavy trading.
- No official statement linked to this change.
- The movement attributed to profit-taking and distribution.
Internet Computer’s token, ICP, saw a sharp retreat from $5.75 amid high distribution and profit-taking on August 11, 2025, across major crypto exchanges.
This reflects typical orderflow-driven patterns near resistance levels without official catalyst announcements, impacting market sentiment and trade volumes temporarily.
ICP’s intraday rally to approximately $5.75 on Aug 11 was followed by a swift sell-off and partial rebound. There is no official announcement from DFINITY/Internet Computer linking this movement to protocol changes.
Entities involved include the DFINITY Foundation, led by Dominic Williams, and several major crypto exchanges. These exchanges facilitated the distribution; none issued incident notices at the time.
The sharp sell-off and subsequent rebound indicate a trading event driven by distribution. Higher trading volumes were observed compared to recent averages.
No financial, governance, or structural changes were noted on Aug 11, suggesting the price movement was orderflow-driven with no broader market impact.
The event was localized to ICP order books with no significant effect on other cryptocurrencies. Trading patterns suggest heightened activity around resistance levels at past price highs.
Historically, ICP has shown similar volatile behavior, specifically around peak trading volumes at round numbers. Exchange-level data points toward a pattern linked to profit-taking and resistance defenses.
ICP fell from $5.75 to $5.43 in a 5% swing… Selling volume hit 965,595 units… Buyers then defended the $5.44 support level, triggering a rebound…– CoinDesk Live Market Desk, Market Desk Reporter, CoinDesk Market Coverage
