The Internet Computer Protocol (ICP) experienced a significant decline, falling 7% from $5.67 to $5.27 on August 17-18, breaching a critical support level at $5.48. Trading volume surged to 708,905 units, nearly double the daily average of 386,248 units, indicating large-scale institutional selling. Analysts viewed this pattern as a sign of coordinated selling among significant investors. Attempts at recovery were brief, as the token fell back to $5.29 shortly after. The broader crypto market is facing bearish conditions amid rising concerns about U.S. inflation, following a higher than anticipated Producer Price Index (PPI) for July 2025. The prevailing risk-off sentiment and reduced liquidity in the market have driven investors to sell off more speculative assets like ICP, raising questions about institutional interest in the project.

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