Strong DeFi BTC Flows and Breakout Volume Push ICP Toward the $5 Mark -

ICP Eyes $5 as Rising DeFi Bitcoin Activity and Strong Volume Fuel Rally

Internet Computer (ICP) climbed 2.98% over the past 24 hours, trading at $4.9487 after successfully breaking past the important $4.90 resistance level. The move sets up the token for a potential test of the crucial $5.00 mark in the coming sessions.

The rally reflects growing confidence in the project, supported by rising activity in the protocol’s Bitcoin-linked decentralized finance (DeFi) ecosystem.

On social media platform X, the ICP team shared that the total supply of ckBTC (Chain-Key Bitcoin) on the network has grown from 254 to 349 tokens since June 9, marking a 37% jump in under a month. This signals increased Bitcoin flows into ICP’s DeFi infrastructure, which offers rapid, secure cross-chain functionality.

Trading Activity Signals Momentum

In the last 24 hours, ICP moved within a tight $0.21 trading range, fluctuating between $4.73 and $4.93, maintaining a steady upward trend. Momentum picked up notably as trading volumes surged, and higher lows formed on the price charts—a sign of strong buying interest.

One significant push came when prices jumped from $4.90 to $4.93 between 10:41 and 11:40 UTC, driven by aggressive buying. Trading volume hit a session peak of 59,999 units at 11:29 UTC, well above typical daily levels.

Earlier, ICP held solid support at $4.73, and a retest of the $4.90 zone at 10:52 UTC confirmed it as a new support level. Combined with the uptick in ckBTC activity, the technical picture suggests ICP may be primed for further gains.

Key Technical Takeaways

ICP rose nearly 3% over 24 hours, trading between $4.73 and $4.93.
Support held firm at $4.73, helping fuel the rally.
A clear breakout above $4.90 occurred at 10:59 UTC, with follow-through strength.
Large volume surges at 11:23 (33,830 units), 11:28 (27,673 units), and 11:29 (59,999 units) signal sustained buying pressure.
A brief dip back to $4.90 at 10:52 UTC was quickly reversed, paving the way for further upside.
ckBTC supply on ICP has expanded by 37% since June 9, highlighting growing DeFi engagement.