ICP’s value fell by 7% from 5.67 USD to 5.27 USD, with key support at 5.48 USD breached on August 18. Institutional selling intensified, reflected in the surge to 708,905 units traded, nearly double the average.
The broader crypto market faces bearish pressure due to rising U.S. Inflation concerns linked to the recent PPI report. Technical indicators show failed recovery attempts for ICP, suggesting a downturn in institutional interest.
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