$ICP TLDR

Internet Computer (ICP) fell 5.21% over the past 24h to $4.02, underperforming the slightly positive crypto market (+0.18%). This follows a 25% weekly gain driven by the Mission 70 tokenomics upgrade. Key factors:

Profit-taking after rapid 41.8% monthly surge

Overbought technicals (RSI 70.4) triggering correction

Altcoin weakness amid Bitcoin dominance (58.9%)

## TLDR
Internet Computer (ICP) fell 5.21% over the past 24h to $4.02, underperforming the slightly positive crypto market (+0.18%). This follows a 25% weekly gain driven by the Mission 70 tokenomics upgrade. Key factors:

1. **Profit-taking** after rapid 41.8% monthly surge
2. **Overbought technicals** (RSI 70.4) triggering correction
3. **Altcoin weakness** amid Bitcoin dominance (58.9%)

## Deep Dive
### 1. Profit-Taking After Rally (Bearish Impact)
**Overview:** ICP surged 25.24% last week after DFINITY's Mission 70 whitepaper proposed cutting token inflation by 70% by 2026. This rapid gain triggered profit-taking as short-term traders locked in gains. Trading volume plunged 48.5% to $143M, indicating reduced buying interest.

**What this means:** Short-term holders capitalized on the bullish news catalyst, creating sell pressure without matching new demand. The lack of volume support amplified the downward move as liquidity thinned.

**What to look out for:** Sustained volume below $150M could prolong consolidation.

### 2. Overbought Technical Correction (Bearish Impact)
**Overview:** ICP's 7-day RSI hit 70.4 – above the overbought threshold of 70 – signaling overheating after the rally. Price rejected the 200-day moving average ($4.45), a key resistance level testing long-term trend sustainability.

**What this means:** Technical traders sold at resistance when momentum indicators flashed overbought warnings, accelerating the pullback. The rejection at the 200-day MA suggests unresolved bearish pressure.

**What to look out for:** A break above $4.31 (daily pivot) could signal renewed strength.

### 3. Altcoin Weakness Amid Market Rotation (Bearish Impact)
**Overview:** The Altcoin Season Index fell to 23 ("Bitcoin Season") as capital rotated into Bitcoin. ICP underperformed while BTC gained 0.18%, reflecting broader altcoin struggles. Global crypto spot volume dropped 45.57% in 24h.

**What this means:** ICP suffered from sector-wide risk aversion, with traders reducing alt exposure amid Bitcoin's dominance spike to 58.9%. Thin altcoin liquidity magnified ICP's drop.

**What to look out for:** Shifts in the Altcoin Season Index above 50 could signal altcoin momentum returning.


The dip appears driven by technical profit-taking after rapid gains and sector-wide altcoin weakness, not fundamental deterioration. While Mission 70's supply reduction could support ICP long-term, traders should watch Bitcoin dominance and the $3.98 Fibonacci support for near-term cues.

**Key watch:** Can ICP hold $3.98 support as RSI cools from overbought levels?