according to the website - By Cryptopolitan_News
Today, Internet Computer (ICP) fell by 4.85% to $5.91, reaching a low of $5.81 after yesterday's high of $6.25. However, this is the case for all assets. The last 24 hours have vividly demonstrated market volatility, accompanied by significant liquidation volumes in the cryptocurrency market.
In the morning trading hours in the US, ICP fell by 2% from $5.97 to $5.87, with concentrated selling pressure observed as the price broke through several support levels. Trading volume during this period exceeded 1.3 million tokens.
Even after a brief attempt to bounce around $6.02, the token could not regain a bullish trend. Data indicates that the short-term momentum remains with the bears if the resistance at $6.00 is not convincingly overcome. Bullish headlines lead to bearish outcomes.
Maestro, a provider of infrastructure for Bitcoin DeFi, received a grant from the DFINITY Foundation to create a corporate native indexer of the Bitcoin metaprotocol for ICP. As part of this partnership, a fast ICP container is being created that can provide real-time information on ordinals and runes within the integration of ICP with Bitcoin.
Co-founder and CEO of Maestro, Marvin Bertin, stated: "I am very excited to partner with the DFINITY Foundation to expand the integration of ICP with Bitcoin through secure indexing of runes and ordinals needed for financial applications like Liquidium and Odin.fun. This partnership further strengthens ICP's leadership in the Bitcoin DeFi ecosystem and opens up new functional opportunities for users."
More than 1000 developers have worked with Maestro's infrastructure, which powers over 200 applications. The indexer will have fully open-source code. This will provide developers with a reliable and understandable way to create native Bitcoin applications for various purposes, from DeFi to gaming.
The Vice President of Development at the DFINITY Foundation stated: "We can now provide developers with direct, trustless access to data on ordinal numbers and runes to foster a powerful wave of innovation based on Chain Fusion's unique ability to interact with Bitcoin without bridges and intermediaries."
Even after optimistic headlines, the token succumbed to broad outflows from the market of altcoins, including assets related to AI and DeFi.
Analysts call this altcoin pullback a healthy correction.
The cryptocurrency market has calmed down over the last 24 hours. On Tuesday, altcoins fell as markets settled after last week's surge driven by Trump following the signing of the stablecoin law.
As investors pulled back after double-digit gains, Ethereum fell by 2.6% and Dogecoin by 1.5%. In a stronger decline, Stellar fell by 4.1% and Cardano by 2.8%. Analysts viewed this drop as a 'healthy correction' after signs of overbought conditions and euphoric growth.
On the other hand, while BTC has fallen from Monday's new high of 123,000, it has shown a 1% increase, exceeding 119,000. However, ETH continues to attract attention, outperforming BTC over several trading sessions and contributing to an increase in votes declaring the start of altcoin season.
Bitcoin's dominance share has fallen to 59.7%, while the altcoin season index has jumped to 56. The fear and greed index was at 67. As a result, traders have shifted into full degenerate mode, chasing everything except Bitcoin.
From a structural perspective, the BTC pullback may reflect a psychological shift: capital is flowing into altcoins while maintaining support from institutional investors in cryptocurrencies overall.
Market watchers believe that the pause is normal after the signing of the GENIUS Act stablecoin regulation law on Friday. Markets expect only two rate cuts this year, so the latest remarks from Fed Chair Powell before a 10-day silence period only heighten the tension.
$BTC , $TON , $SUI
#MarketRebound , #Cryptomarketnews
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