Market Overview: Peanut the Squirrel/Bitcoin (PNUTBTC) on 2025-12-23

Summary
• Price moved lower over 24 hours, closing at 8e-07 after a sharp drop from 8.1e-07.
• A key support level appears near 7.9e-07 with high volume activity in the final hours.
• RSI remains neutral, but low volume suggests limited conviction behind the decline.

Peanut the Squirrel/Bitcoin (PNUTBTC) opened at 8.1e-07 on 2025-12-22 12:00 ET and fell to a low of 7.9e-07 before closing at 8e-07 on 2025-12-23 12:00 ET, with a high of 8.1e-07. Total volume for the 24-hour period was 108,201.5, and notional turnover amounted to approximately 85.5e-07.

Structure & Formations

Price action over the 24-hour period formed a bearish bias, with a notable breakdown below 8.1e-07 occurring after the 5:00 AM ET bar, marked by a sharp volume spike. A support level appears to have formed around 7.9e-07, with price consolidating near that level in the final hours. No clear reversal patterns emerged, but a long lower shadow on the final candle hints at tentative buyers entering at the lower end of the range.

Moving Averages

Short-term moving averages (20/50-period) on the 5-minute chart remained flat around 8.1e-07, indicating no strong directional bias. Over the daily timeframe, the 50-period MA was higher than the 200-period MA, suggesting a bearish bias in the broader trend.

MACD & RSI

MACD remained below the signal line, with a bearish crossover reinforcing the downward bias. The RSI settled in the mid-range (around 45), indicating moderate momentum but no overbought or oversold conditions.

Bollinger Bands

Volatility remained subdued, with price fluctuating narrowly within the bands for most of the day. The final hour saw a slight widening of the bands as volume increased and price tested the lower band, suggesting a potential short-term turning point.

Volume & Turnover

Volume spiked sharply around 5:00 AM and 6:00 PM ET, coinciding with the price drop and consolidation near support. Turnover also increased during these periods, confirming the validity of the price move. However, volume remained relatively low in the morning hours, indicating weak participation during the initial phase of the decline.

Fibonacci Retracements

Applying Fibonacci retracement to the recent 5-minute swing (from 8.1e-07 to 7.9e-07), price has tested the 61.8% level near 8.02e-07 and consolidated near the 78.6% level. A break below 7.9e-07 could target the 100% level at 7.8e-07.

Market activity appears to be consolidating near the 7.9e-07 level, which may serve as a short-term floor. Price could test this support again in the coming 24 hours, with a potential break below it opening the door for further bearish movement. Investors should remain cautious as volatility remains low, and any breakout without strong volume confirmation may not be sustainable.