Internet Computer Retreats as Risk-Off Sentiment Hits Altcoin Sector

Internet Computer Slides Below $6 Despite Ecosystem Growth as Altcoin Pressure Mounts

Internet Computer (ICP) fell 4.85% on Tuesday, closing at $5.91 after touching an intraday low of $5.81. The decline came amid a broader retreat across the altcoin market, even as developers announced a notable infrastructure partnership.

The DFINITY Foundation revealed a new collaboration with indexing firm Maestro to build a Bitcoin metaprotocol index on the Internet Computer. The initiative, funded by DFINITY, aims to provide institutional access to Bitcoin-native DeFi protocols such as Ordinals and Runes. While the move signals growing ecosystem maturity, market sentiment remained firmly risk-off.

ICP opened at $6.22 but steadily declined throughout the day, breaching the psychologically significant $6.00 mark shortly after midnight UTC. The breakdown triggered a wave of high-volume selling, with over 1.3 million tokens changing hands during the move toward support at $5.83.

The downtrend intensified during U.S. trading hours, as ICP dropped 2% from $5.97 to $5.87 in under an hour between 13:09 and 14:08 UTC. Spikes in sell volume exceeded 50,000 tokens per minute. A brief rally to $6.02 was quickly rejected, reinforcing resistance at that level and suggesting bearish control remains in place.

Key Technical Metrics:

• Intraday Range: $5.81 – $6.25 (7.3% spread)
• Total Volume: 1.94 million tokens; peak activity during sub-$5.90 breakdown
• Resistance Zone: $6.00 – $6.02 remains firmly capped
• Support Zone: $5.83 – $5.87 attracts notable buyer interest
• Volatility: Daily price spread of $0.44 signals elevated instability
• Notable Move: 2% decline in a single hour amid heavy sell pressure

Despite continued development on the protocol front, ICP’s short-term price action remains dictated by macro altcoin weakness. Bulls will need a convincing reclaim of the $6.00 level to shift momentum in their favor.