Bitcoin (BTCUSDT) Market Overview: 24-Hour Summary (2025-08-24 12:00 ET–2025-08-25 12:00 ET)

Summary
• Price declined sharply from $114,700 to $110,800 amid a massive bearish reversal pattern at 19:45 ET.
• Volatility surged, with a 20-period Bollinger Band width expansion and RSI hitting oversold levels below 30.
• High-volume sell-offs below $113,000 accelerated the 4.3% drop, with consolidation near $111,000.
• A bullish engulfing pattern re-emerged in the final hours, hinting at short-term stabilizing sentiment.

Market Overview
Bitcoin (BTCUSDT) opened at $114,604 on 2025-08-24 at 12:00 ET and closed at $111,214.97 on 2025-08-25 at the same time, marking a 4.3% decline over 24 hours. The price ranged between a high of $114,917.09 and a low of $110,588. The total volume was ~15,267 BTC, while notional turnover reached approximately $1.67 billion, with the largest single candle at 19:45 ET accounting for ~$3.9 billion in turnover.

Structure & Formations

Bitcoin faced critical resistance in the $114,600–$114,900 range, where sellers took control. A bearish reversal pattern emerged around 19:45 ET as Bitcoin gapped down from $114,700 to $113,079, followed by a rapid descent to $110,800. A series of engulfing bearish candles followed, confirming distribution. A bullish engulfing pattern appeared near the close, signaling short-term stabilization. Key support appears to be forming in the $111,000–$112,000 range, with a 61.8% Fibonacci retracement of the 19:45 ET move offering immediate near-term support.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward after the 19:45 ET plunge, with the 20-period closely tracking the price. The 50-period MA acted as resistance until Bitcoin closed below it. On the daily chart, Bitcoin closed well below the 50, 100, and 200-period moving averages, reinforcing a bearish bias in the short term.

MACD & RSI

The MACD line turned negative midday, confirming bearish momentum, while the histogram expanded to the downside. The RSI hit oversold levels below 30 in the final 6 hours, suggesting potential for a near-term bounce. However, a bearish crossover in the MACD at 20:00 ET aligned with a sharp drop in price and volume, signaling a potential continuation of the bearish phase.

Bollinger Bands

Volatility expanded significantly following the large drop at 19:45 ET, with Bitcoin moving well below the 20-period Bollinger Band lower boundary. The price remained within the bands for most of the session, but the widening of the band width indicated heightened uncertainty. A retest of the lower band near $111,200 in the final 15 minutes suggests support may be forming at that level.

Volume & Turnover

Volume spiked dramatically at 19:45 ET, with a single candle accounting for 3,803 BTC traded—over 24% of total daily volume. Turnover for that candle reached $3.9 billion, indicating large institutional selling. A divergence between rising price and falling volume occurred in the last 2 hours of the session, suggesting decreasing conviction in a potential rebound. However, a final 15-minute candle showed a modest increase in volume and a bullish close, which may hint at initial accumulation.

Fibonacci Retracements

Applying Fibonacci to the large drop from $114,700 to $110,800, Bitcoin found support at the 61.8% level (~$112,000) and again at the 50% level (~$112,750) in the final hours. These retracement levels could become key watchpoints in the next 24 hours. On a daily chart, the 38.2% retracement of the prior week’s move may offer a potential bounce point if buying interest returns.

Conclusion
Bitcoin may consolidate near $111,000–$112,000 in the next 24 hours, with a potential test of the 61.8% Fibonacci level (~$112,000) as a target. However, traders should remain cautious of renewed bearish momentum, especially if the $110,000 level is retested or if volume surges again without a corresponding price recovery.