Market Overview for EigenLayer/Bitcoin (EIGENBTC) – October 11, 2025

• Price opened at $0.00001399 and closed at $0.00001129, with a 24-hour low of $0.00000508.
• A sharp selloff emerged after 21:15 ET, with price dropping by ~66.3% in three hours.
• Volume spiked dramatically during the downtrend, while price failed to hold key Fibonacci levels.
• RSI signaled oversold conditions in the final hours, but bullish divergence was weak.
• Volatility expanded significantly, with price breaching lower Bollinger Band levels.

EIGENBTC opened at $0.00001399 (12:00 ET – 1) and reached a high of $0.00001417 before closing at $0.00001129 at 12:00 ET. Total volume traded was 495,804.27, while turnover amounted to $5.25 over 24 hours. The pair exhibited a sharp downward drift, with bearish momentum dominating after 21:15 ET.

Structure & Formations

EIGENBTC displayed bearish dominance throughout the session, with the price breaking key intraday support levels and forming a long-legged doji at 21:45 ET. A bearish engulfing pattern emerged between 21:15 and 21:30 ET, confirming a shift in momentum. Price then accelerated below critical psychological and Fibonacci retracement levels, failing to find any significant bids below $0.00001130.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both sloped downward, reflecting the bearish bias. Price remained below both, reinforcing the downtrend. The 200-period daily MA, if available, would likely show a similar bearish alignment. A crossover of 50-period and 20-period lines is not expected in the next 24 hours, maintaining the bearish signal.

MACD & RSI

MACD remained negative with no sign of a bullish crossover, while the histogram continued to expand downward. RSI hit oversold levels in the final hours but failed to trigger a strong bounce, suggesting exhausted bearish momentum. A reversal signal is not yet confirmed, and a further pullback may be expected before any potential recovery.

Bollinger Bands

Volatility expanded dramatically during the sell-off, with the lower Bollinger Band reaching as low as $0.00000508 by 21:30 ET. Price closed near this extreme, suggesting a high level of uncertainty. A consolidation phase may follow, with the Bollinger Band width potentially contracting if price stabilizes above $0.00001120.

Volume & Turnover

Volume spiked during the downtrend, particularly between 21:15 and 21:45 ET, where over 160,000 units were traded. However, price failed to hold above key Fibonacci levels such as 61.8% and 78.6% retracements of the prior rally. This divergence between volume and price suggests the downtrend may not be fully exhausted and could continue.

Fibonacci Retracements

Recent 15-minute swings indicate that price broke below both 61.8% and 78.6% retracements after 21:15 ET. The 23.6% level was breached by mid-evening, confirming a structural breakdown. On the daily chart, EIGENBTC now appears to be testing the 50% Fibonacci level of its broader range, with further support at 61.8%.

Backtest Hypothesis

Applying a breakout-based strategy to the daily Fibonacci levels and key 15-minute candlestick patterns could offer a viable backtesting framework. A buy signal might be generated on a close above 61.8% Fibonacci with confirmation via a bullish engulfing pattern, or a short signal on a breakdown below 78.6% with a bearish hammer. A stop loss would be placed at the nearest support/resistance level, and take profit would target either the 38.2% retracement for short positions or the next swing high for longs. Given the current bearish momentum and oversold RSI, a short bias may be more appropriate in the next 24 hours.