Market Overview for Bitcoin/Tether (BTCUSDT) on 2025-09-24

• Price swung between $111,042.66 and $113,890.00 with a final close near $113,029.46
• Volatility surged during the 04:15–04:45 ET range, with a low of $111,042.66
• MACD and RSI showed mixed momentum signals, with RSI near overbought territory in the last hours
• Volume and turnover increased in the final hours, suggesting accumulation or distribution
• Bollinger Bands signaled a volatility expansion, with price near the upper band at 12:00 ET

Bitcoin/Tether (BTCUSDT) opened at $112,934.47 at 12:00 ET−1 and closed at $113,029.46 by 12:00 ET, after reaching a high of $113,890.00 and a low of $111,042.66. Total volume for the 24-hour window was 14,995.63 BTC, while notional turnover reached approximately $1.69 billion (based on closing prices and volume).

Structure & Formations

Price action in the early morning ET showed a deep pullback from the intraday high, reaching a multi-hour low of $111,042.66. A subsequent rebound brought BTCUSDT back above key psychological levels of $112,000 and $113,000. The formation suggests a strong short-term support near $111,500–$112,000 and potential resistance at $113,500–$114,000. A bullish engulfing pattern formed in the 04:30–05:00 ET range, confirming the reversal from the low. A doji also appeared near the top of the Bollinger Band in the final hour, signaling indecision and potential consolidation.

Moving Averages

On the 15-minute chart, BTCUSDT closed above the 20 and 50-period moving averages, indicating a short-term bullish bias. The 50-period line was at ~$112,850, while the 20-period sat near ~$112,920. On the daily chart, the 50, 100, and 200-day moving averages are all in bullish alignment, with the 200-day line currently at ~$111,800. Price remains above this key threshold, which may act as a critical support level in a reversal scenario.

MACD & RSI

MACD crossed into positive territory in the late evening, with the signal line rising and the histogram showing bullish momentum. RSI hit 70 in the final hour, indicating overbought conditions. However, a sustained move above $113,500 could trigger a short-term pullback, especially if volume fails to confirm the rally.

Bollinger Bands

Volatility expanded sharply after the 04:15 ET low, with the bands widening significantly. At 12:00 ET, BTCUSDT was trading near the upper band at $113,029.46, suggesting a potential overbought condition. A pullback to the middle band (~$112,400–$112,500) could be expected in the near term, depending on volume behavior.

Volume & Turnover

Volume increased significantly in the final 6–8 hours of the 24-hour period, with a surge in buying activity between 10:00 and 12:00 ET. Notional turnover also spiked during this time, suggesting increased accumulation or distribution. There was a divergence between price and volume during the 04:15–06:00 ET period, which may indicate a temporary overbought condition or a possible reversal.

Fibonacci Retracements

Applying Fibonacci to the key swing from $111,042.66 to $113,890.00, BTCUSDT closed near the 78.6% retracement level (~$113,000), suggesting a potential pause in the upward move. The 61.8% level (~$112,600) has held strong as a support, and a breakdown below this could signal renewed bearish momentum.

Backtest Hypothesis

A potential backtest strategy would involve entering long positions at the 20-period moving average break above, with a stop just below the 15-minute swing low. Given BTCUSDT’s movement, this would have been triggered between 05:00 and 06:00 ET. The strategy could target the 78.6% Fibonacci retracement level (~$113,000) as a profit target, aligning with the 15-minute chart’s bullish momentum. A stop-loss below the 61.8% level (~$112,600) would help manage risk, particularly if RSI and MACD begin to show bearish signs.