ICP — 99.96% Down From ATH | Generational Bottom Formation

After nearly 5 years of continuous distribution and capitulation, ICP appears to have completed a full macro bear cycle. Price is ~99.96% down from ATH and has formed what looks like a final all-time low around $1.16, followed by prolonged sideways consolidation — a classic sign of seller exhaustion.

Time-based structure is key here: major crypto bottoms historically form 4–5 years post-launch, once early investors, VCs, and emissions are fully absorbed. ICP is now exactly in that window. Instead of continuing lower, price is compressing and ranging, suggesting accumulation rather than distribution.

The current range ($1.16–$6) represents a massive absorption zone. Failed rallies are expected at this stage and do not invalidate the bottom — the first impulse usually fails. A reclaim of the $3.3–$3.6 region would signal momentum shift, while a break above ~$6 would confirm a macro trend reversal.

With sentiment washed out and volatility compressed, risk/reward at these levels is asymmetrically bullish**. If history rhymes, 2026 aligns with a potential expansion phase following this multi-year base.