Market Overview for Beefy/Tether (BIFIUSDT) on 2025-12-31

Summary
• Price dropped 5.8% in 24 hours, hitting a low of 181.1 before rebounding toward 198.2.
• Key support appears near 184.0, with bearish momentum easing after 05:30 ET.
• Volume spiked during the 19:30–20:30 ET sell-off, confirming bearish pressure.
• Bollinger Bands show a moderate contraction post 02:00 ET, hinting at a potential breakout.
• RSI bottomed in oversold territory, but lacks follow-through to confirm a reversal.

The 24-hour period for Beefy/Tether (BIFIUSDT) opened at 197.2, reached a high of 200.0, and a low of 181.1, closing at 187.0. Total volume was 12,115.295, with notional turnover of 2,332,073.76.

Structure & Formations

Price formed a bearish inside bar pattern at 20:15 ET, followed by a large bearish engulfing candle at 20:30 ET. These bearish setups confirmed a sharp decline, with 184.0 emerging as a strong support level. A bullish harami appeared near the close (11:15–11:45 ET), suggesting a potential short-term bounce.

Moving Averages

Short-term 20/50-period SMAs on the 5-min chart trended downward, reflecting bearish momentum. Daily 50/100/200 SMAs were not provided, but based on 5-min context, the 200 SMA likely sits above 195.0, indicating a bearish bias over the longer term.

MACD & RSI

MACD turned bearish midday with a strong negative crossover, aligning with the sharp drop. RSI bottomed near oversold territory (below 28) at 05:15 ET but has yet to close above 40, signaling weak conviction in the recovery.

Bollinger Bands

Bollinger Bands contracted between 02:00–04:00 ET, narrowing volatility before a breakout attempt. Price briefly touched the upper band at 198.2 and the lower band at 184.0, indicating moderate volatility.

Volume & Turnover

Volume spiked to 1,061.435 during the 21:00 ET session, driving a large bearish move. Turnover increased in tandem, confirming the bearish breakout. However, volume dipped below 100 post 07:00 ET, suggesting waning momentum.

Fibonacci Retracements

On the 5-min chart, price tested the 61.8% retracement level at 189.3 before rebounding. On the daily chart, the 50% retracement of the recent drop sits at ~190.0, which may serve as a near-term target for bulls.

Price may consolidate around 187.0–189.0 over the next 24 hours, with a potential test of the 61.8% Fibonacci level. However, bearish momentum remains intact, and a breakdown below 184.0 could extend the correction. Investors should monitor volume and RSI for early signs of a reversal.