Market Overview for EigenLayer/Bitcoin (EIGENBTC) on 2025-10-25

• EIGENBTC traded in a tight range, with a 24-hour high of 9.99e-06 and a low of 9.49e-06, closing near the low.
• A notable bearish breakout occurred after a consolidation period, with price falling below key support at 9.8e-06.
• Volume spiked twice — once during the early morning dip and again during the afternoon rally — but failed to confirm bullish intent.
• RSI dipped into oversold territory during the session, while MACD remained negative, signaling weak momentum.
• Bollinger Bands showed moderate volatility, with price hovering near the lower band for much of the day.

EigenLayer/Bitcoin (EIGENBTC) opened at 9.77e-06 on 2025-10-24 at 12:00 ET and closed at 9.58e-06 on 2025-10-25 at 12:00 ET, with a high of 9.99e-06 and a low of 9.49e-06. Total trading volume for the 24-hour window was 58,725.13, with a notional turnover of approximately 566.58 BTC. The session displayed a bearish consolidation pattern with a final breakdown below key support levels.

Over the past 24 hours, EIGENBTC formed a narrow-range consolidation pattern before breaking down decisively. Key support levels were tested, notably at 9.8e-06 and 9.7e-06, but both were breached during the late-night and early-morning session. A bearish engulfing pattern formed at 23:45 on October 24, confirming the downward shift. The price action appeared to reflect weakening demand, with buying volume tapering off after the initial dip and a failed rally in the afternoon.

Moving averages showed a bearish bias, with 20-period and 50-period lines on the 15-minute chart consistently above the price action, reinforcing the downtrend. The 200-period daily MA, while not visible in the 15-minute data, would likely remain above the current price, suggesting medium-term bearish pressure. On the momentum front, RSI hit oversold territory multiple times, but failed to generate a meaningful rebound, indicating potential exhaustion in the short-term rally attempts.

Bollinger Bands reflected moderate volatility, with price spending much of the session near the lower band, particularly during the late-night decline. A contraction in the bands was observed between 02:00 and 04:00 ET on October 25, signaling a potential consolidation phase that eventually led to a breakdown. The MACD remained negative throughout, with bearish divergence observed after the failed afternoon rally, indicating continued bearish momentum. Fibonacci retracements highlighted key levels during the retracement attempts, with 38.2% and 61.8% levels from the 10/24 high failing to hold as buyers stepped in only briefly.

Backtest Hypothesis
Applying the described event logic, we could test a trading strategy that assumes a long position is taken at the close on each day when the 38.2% Fibonacci retracement level of the 60-day swing high–low is touched or breached. This approach would then exit on a 60-day high breakout, with a stop-loss of 5% and a take-profit of 8%. The 60-day look-back appears reasonable for identifying medium-term swing highs, especially in a market like EIGENBTC, where price tends to retrace within tight ranges. A backtest would help measure the viability of using these levels as actionable triggers in future price action.