In a surprising development, the market capitalization of Internet Computers (ICP) has soared by more than $1 billion since the beginning of the month. This sudden increase comes as most altcoins are experiencing significant losses. It countered the downward price trend and achieved a 75% increase. While other cryptocurrencies have been weighed down by factors such as a prolonged U.S. government shutdown and concerns about slowing economic growth, ICP has shown resilience.
As broader markets are being lost, $ICP It is up 60% this week due to increased mindshare and sentiment gains of over 1,400.
So what’s driving this momentum?
A quick search on Cookie Deep Research and a scan of smart feeds revealed the following:
→ On-chain performance: $ICP Currently… pic.twitter.com/UI6ZUTJpDy
— Cookie DAO🍪 (@cookiedotfun) November 5, 2025
This growth can be attributed to multiple organizational use cases that position Internet computers as key players in the next phase of the Internet. As traditional web services struggle with scale and cost, ICP has emerged as a competitor to industry giants like AWS. Its solutions address the growing need for blockchain-based applications with web-speed performance and scalable infrastructure.
Breaking patterns and exploring new horizons
ICP recently overrode the bearish descending triangle pattern that was threatening market stability. A descending triangle, a typical setup for a downtrend, was expected to prolong the token’s struggles. ICP surprised the market by breaking upwards, which triggered an even bigger breakout from the year-long descending channel pattern.
This surge opened the door to further profit potential. Although the current momentum suggests a possible short-term cooldown, a breakout remains important. The MACD histogram shows the fastest increase since the late 2024 bull market, indicating potential change. With the risk of a short-term correction, many market analysts believe ICP could move towards a 90% rally and reach $10 in the near future.
Institutional focus drives bullish momentum for ICP
Recent upgrades to the platform, such as ICP 2.0, have enhanced its scalability and security features. The release of Caffeine, an AI-powered app builder, expands the utility of ICP, while improved cross-chain interoperability and deflationary tokenomics increase investor confidence.
The market shift towards decentralized technology is strengthening the role of ICP as a critical blockchain solution for institutions. As traditional web services are increasingly viewed as expensive and limited, ICP provides an alternative service tailored to the evolving demands of modern enterprises. This change positions ICP as the leading Web3 solution, addressing issues of speed, scalability, and cost-effectiveness that central cloud providers struggle to manage.
Will ICP continue to soar, or will the market take a breather?
The Relative Strength Index (RSI) is hovering near the overbought threshold, indicating that buyers may be running out. Market participants who entered ICP during the recent rally may look to lock in profits, potentially leading to a short-term decline. A correction could push the price down to the $4.20 demand zone, where a potential support level could form.
The breakout from the descending channel is fully operational and ICP can rise by up to 90% and reach $10. Given the broad institutional interest and growth in the Web3 story, there is also a possibility that ICP could challenge the 2024 highs, with a 200% increase approaching the $16 level.
With increasing institutional demand for scalable blockchain solutions, ICP has established itself as a key player in the Web3 space. Whether the price can maintain its momentum will depend on broader market conditions and how quickly ICP continues to expand.