ICP Reverses After Rally to $6.08 — Security Fears Signal Sell

I saw ICP spike to $6.08 but then reverse sharply as security concerns surfaced, turning the rally into a quick retracement. The price action suggests the move lacked sustainable conviction and was likely liquidity-driven.

Reports about potential vulnerabilities amplified selling pressure and increased volatility, making short-term direction uncertain. On-chain activity and volume patterns point to distribution rather than accumulation.

Given the unresolved security issues, I’m avoiding new long entries and would trim positions or tighten stops until there’s clear confirmation that the concerns are addressed and support holds.