The ICP token has experienced a notable retreat from its recent high of $5.75, a movement that can be attributed to significant distribution activity among traders and investors who appear to be selling off their holdings. This ongoing heavy distribution suggests a potential trend reversal or profit-taking among market participants, leading to a decline in the token's price. As a result, market observers are closely monitoring the situation to assess whether this retreat indicates a broader bearish sentiment or simply a temporary correction within a larger bullish trend.
source: https://www.coindesk.com/markets/2025/08/11/icp-retreats-from-usd5-75-high-amid-heavy-distribution