Internet Computer Protocol (ICP) has seen a 5.18% decline in the last 24 hours, trading at $4.8373. This drop is more significant than the broader crypto market, as evidenced by the CoinDesk 20 Index, which only saw a half of that decrease.

The decline in ICP’s price is attributed to renewed selling pressure caused by geopolitical risks and cybersecurity threats affecting digital asset markets. A cybersecurity firm, Koi Security, recently uncovered a network of malicious browser extensions targeting cryptocurrency users. These fake Firefox add-ons, mimicking popular wallets like MetaMask and Coinbase, have reportedly stolen sensitive information from users since April 2025.

Koi Security’s report pointed towards Russian-speaking actors behind this malicious activity, adding another layer of concern for crypto investors amidst global regulation uncertainties. ICP’s price reacted sharply to these developments, dropping below the key support level of $5.00, according to CoinDesk Research’s technical analysis model. Increased trading volumes during certain selloff times on July 3 further exacerbated the bearish sentiment, showcasing the coin’s vulnerability to broader market sentiment and cyber threats.

The incident concerning fake wallet attacks has raised awareness about security risks in decentralized ecosystems, posing reputational risks for projects like Internet Computer. With a focus on on-chain infrastructure and self-custody, such exploits could impact investor sentiment even if not directly linked to the protocol itself.

In terms of technical analysis highlights:
– ICP-USD declined 4.3% during the period between July 3 07:00 and July 4 06:00.
– Price action formed a descending channel, with resistance near $5.13 and a breakdown below $5.00.
– Significant selloffs were observed at specific times on July 3, accompanied by above-average volume.
– The token’s overall range was $0.26 (5.1%), indicating heightened volatility.
– Support was found at $4.88 around 06:30, followed by a minor recovery stalling at $4.89.
– Volume exceeded 94,000 units during a specific window, likely driven by institutional activity.
– The final minutes showed consolidation with low volatility hinting at possible range-bound action in the future.

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