Market Overview for io.net/Bitcoin (IOBTC) – 2025-10-09

• IOBTC traded in a tight range most of the session before a sharp late dip
• 15-min RSI hit overbought levels early, but failed to confirm bullish momentum
• Volatility increased in the last 4 hours with price dropping from 4.38e-06 to 4.19e-06
• Bollinger Bands showed contraction early morning, followed by a breakout to the downside
• Notable bearish divergence between price and volume suggests potential further downside

The 24-hour session for IOBTC opened at 4.31e-06 on 2025-10-08 at 16:00 ET and traded as high as 4.38e-06 and as low as 4.09e-06 before closing at 4.11e-06 on 2025-10-09 at 12:00 ET. Total volume for the period was 34,943.86, with a notional turnover of 0.144451 BTC. Price showed bearish momentum in the final hours, with the most significant move occurring around 14:45 ET when it dropped to 4.12e-06 from 4.17e-06.

The structure of the price action revealed a bearish exhaustion pattern in the final hours of the session, with a sharp drop following a consolidation phase. Key support levels appear to be forming near 4.15e-06 and 4.11e-06, while resistance remains at 4.2e-06 and 4.28e-06. A long lower shadow candle at 03:00 ET and a large bearish engulfing pattern at 08:30 ET suggest strong selling pressure. No clear doji patterns were observed during the session.

The 15-min RSI reached overbought territory early in the session but failed to sustain the move, indicating weak bullish conviction. The RSI later entered oversold territory, aligning with the late drop in price. MACD showed a bearish crossover in the final hours, reinforcing the downward bias. Bollinger Bands narrowed early on, suggesting low volatility, before a breakout to the downside in the final 4 hours. Price closed near the lower band, indicating bearish momentum.

Volume and turnover spiked during the late decline, particularly around 08:30 ET and 14:45 ET, confirming the bearish bias. Notional turnover was higher in the bearish waves, suggesting stronger participation by short-side players. No significant divergence between volume and price was observed, though the bearish momentum appeared stronger than the volume suggested.

The Fibonacci retracement levels applied to the session’s swing high (4.38e-06) and swing low (4.09e-06) indicate key levels at 4.23e-06 (38.2%) and 4.16e-06 (61.8%). Price broke the 61.8% level late in the session, which may trigger further downside toward 4.11e-06 and possibly 4.09e-06.