ICP rallies on Fed sentiment despite being labeled weakest crypto
Internet Computer (ICP)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Bitcoin rallied 4.3% to briefly exceed $82.2k before slipping toward $80k, driven by Federal Reserve Governor Christopher Waller’s comments suggesting interest rates would remain steady in September. Internet Computer [ICP] rose 2.5% to follow the market bounce, marking a 27.7% increase from its August 1 low of $1.99. Despite this short-term gain, ICP remains in a long-term downtrend since April 2024 and is down 99.6% from its May 2021 all-time high of $700.
A Taurex report identified ICP as the weakest among 60 cryptos by price performance, noting that heavy investor losses make rallies prone to selling. Crypto influencer SkyV observed that the coin had consolidated around the $2 region for months. ICP recently broke its descending trendline resistance, potentially opening a path toward $7.20.
The asset breached July’s $2.40 high, flipping that former supply zone into demand. The 12-hour chart currently displays a bullish market structure. Immediate resistance sits at $2.62, with $2.80 and $3.20 as subsequent targets if momentum continues.
How the market reacted
Whalio's own Binance spot order flow for ICP, measured when this story was written up on 4 September 2026. Not the outlet's figures.
Whalio’s Binance spot data for ICP shows a price of $2.51, with a 1-hour buy ratio of 42.8% contrasting sharply with a 4-hour buy ratio of 59.0%. This divergence suggests that while short-term selling pressure exists, the broader four-hour trend remains dominated by buyers. The 24-hour buy ratio sits at 48.6%, indicating a near-even split in trading volume over the full day. Volume delta data reveals -$76,954 in the last hour, signaling immediate sell-side aggression, whereas the 4-hour delta is positive at +$234,293. This positive 4-hour delta indicates that cumulative buying has outweighed selling over the longer timeframe. The 24-hour volume delta is negative at -$151,182, but the cumulative volume delta (CVD) for the day closed positive at +$60,415. This positive CVD confirms that net buying pressure has prevailed over the 24-hour period despite the recent hourly dip.
The latest daily buy ratio of 47.8% sits at the 27th percentile of the last 281 days, against a median of 49.1% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ICP, averaged over the days leading up to the story.
Over the preceding week, ICP saw a 7-day average buy ratio of 50.7%, which is 2.1 percentage points higher than the latest day’s reading. This indicates that today’s buying intensity is slightly below the weekly average. Spot volume for the day was $5,432,626, representing 1.14 times the average volume, showing heightened activity. The 8-day volume delta totaled +$355,669, confirming a net positive flow over the week. Price increased by 2.2% over the eight-day period, with net buying occurring on five of the seven days. This context suggests that while today is slightly quieter in terms of buy ratio, the overall weekly trend remains constructive with above-average volume.