Internet Computer (ICP) saw a 6.5% price increase in 24 hours, pushing it to $3.67, driven by a buildup of short liquidations at the $3.55 level and high trading volumes. The bounce occurred after prices dipped to $3.33 on November 1st, but quickly recovered, though the long-term trend remains bearish with a downtrend since March and resistance at $3.75.
Key factors shaping ICP's price include a subnet upgrade in August 2025 that doubled replicated state capacity to 2 TiB, enabling larger on-chain applications and AI integration via the Caffeine tool for no-code development. This supports scalability for DeFi and AI platforms, while recent cloud outages at AWS and Azure have revived interest in decentralized hosting solutions like ICP.
Whale accumulation increased by roughly 2% of supply in Q3 2025, indicating confidence, but market sentiment remains fragile with a Fear & Greed Index at 35 and Bitcoin dominance above 59%. For short-term outlook, ICP must break above $3.15 to confirm bullish continuation, with potential targets at $3.50 and $4.00, or risk a dip to $2.97 or lower.
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