The crypto market is deep in the red today, over $800 million in liquidations as Bitcoin price slipped below $92,000. Yet infrastructure-heavy altcoins such as Internet Computer (ICP) and Filecoin (FIL) are posting rare green candles, signalling potential rotation trades.
Market Sees Over $800M in Liquidations
Bitcoin’s drop triggered a sharp wave of forced liquidations. Around $531 million came from long positions. Another $277 million came from shorts. This marks the fourth consecutive bearish week for Bitcoin. BTC is now heading toward the $88,765 support level.
BTC price graph, Source: TradingView
The technical picture remains weak.
- A Death Cross appeared as the 50-day EMA fell below the 200-day EMA.
- An RSI of around 27 shows oversold conditions.
- MACD continues to trend lower, confirming bearish momentum.
A move above $92,800 could give Bitcoin room to recover, but confidence remains shaky.
Internet Computer Extends Its Rebound
ICP coin gained more than 6% today. This follows a strong 15% rebound on Monday. The asset is now holding firm above the $4.70 support level. If momentum continues, ICP crypto could push toward $6.00. A break above $6.47 may open the path to $8.25. RSI near 54 signals improving buying pressure. MACD is flattening, hinting at a potential bullish crossover. A fall below $4.70 would weaken the recovery setup.
Don’t miss this, our latest Internet Computer Price Prediction breaks down the next big move for ICP coin.
With ICP leading the charge, the capital flows are now being watched by traders targeting Filecoin (FIL) as the next infrastructure name to catch a bid.
Filecoin Pushes Higher Above Key Support
Filecoin surged 7% today, climbing above the 100-day EMA to $2.12. The bounce from the 50-day EMA suggests selling pressure is easing. If FIL can hold above $2.12, it could test the 200-day EMA at $2.42. Technical indicators also look promising: the RSI sits at 53, supporting further upside, while the MACD lines are tightening, hinting at a potential bullish crossover. On the flip side, a drop below the $2.00 mark would put the recovery at risk, potentially sending the price down to $1.27.
This rebound could be just the start. Read our Filecoin Price Prediction for the full long term forecast.
Despite the broader crypto market struggling from Bitcoin’s pullback and heavy liquidations, Filecoin and Internet Computer are showing resilience. They’re holding key support levels and signaling early signs of recovery, making them stand out as potential opportunities even in a bearish market.
Conclusion
If you’re scanning for trades in this bear market, keep an eye on volume surges, key level breaks and rotation into under-the-radar assets like ICP and FIL.
