Internet Computer (ICP) Crypto jumped about +8% to $5.21 in the last day, while the whole crypto market dipped almost 3%. A big part of that move came from funding rates going deep into the negative, showing that traders were heavily shorting ICP.
(ICP Funding Rate | Santiment)
When the price started pushing up, those shorts got squeezed and forced into buying back, which helped fuel the run.
Every time there is a major outage, the ICP crowd shows up fast to remind everyone why decentralized servers matter. The latest Cloudflare crash caused huge losses and took down a big chunk of the internet. Cloudflare is a single centralized choke point, and when it fails, everything connected to it falls apart.
ICP’s whole message is that apps should live on a decentralized, fault-tolerant network instead of relying on one company like Cloudflare, AWS, or Google Cloud. So whenever Cloudflare melts down, it basically proves the exact point ICP has been making for years.
ICP Crypto Could Be Heading Toward $10.00
ICP’s chart looks pretty straightforward right now. Price smacked right into that big support zone again, and buyers are clearly defending it, judging by those sharp rejection wicks.
As long as this area holds, the plan is simple: bounce up into the trendline, then try for another run toward that 5.60 to 5.70 resistance block. That is where sellers usually show up, so expect some chop or a fakeout before anything clean happens.
If bulls can break through that zone with strong candles, a move back toward the previous high starts looking realistic. If the support fails, though, the whole setup falls apart.
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Missed the ICP Recent Run? Bitcoin Hyper Could Be Next
ICP just got a nice boost thanks to a short squeeze and the whole narrative around decentralized infrastructure, but if you’re looking for a play with stronger long-term momentum behind it, Bitcoin Hyper is shaping up as one of the most promising Bitcoin Layer 2 projects in the market.
Bitcoin Hyper runs on the Solana Virtual Machine while still settling back to Bitcoin, giving it fast transactions, low fees, and the security of the biggest blockchain. That combination is exactly why traders are rotating into Bitcoin ecosystem projects right now.
The presale has already raised over 27.8 million dollars in just a few months, and early whales keep loading up. The trustless bridge lets users mint BTC one-to-one on the L2, opening the door to cheaper swaps, faster movement, and DeFi access without giving up custody of their Bitcoin
The token is still sitting at only 0.01305 dollars, and staking rewards are paying around 41% APY, which is a huge draw during volatile market conditions.
While ICP works to reclaim key levels, Bitcoin Hyper is already building steady demand and positioning itself as one of the next major Bitcoin ecosystem engines heading into 2025.
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Key Takeaways
- ICP’s bounce came from a heavy short squeeze and a fresh reminder of why decentralized infrastructure matters after the Cloudflare outage.
- Bitcoin Hyper is building stronger long-term momentum with fast L2 tech, rising demand, and big presale backing, making it a cleaner upside play.
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