Bitcoin Surges to $79,000 Amid Overbought Conditions

Bitcoin's price has surged to around $79,140 after a roughly 22% weekly jump. The Treasury buyback operation triggered a violent short squeeze that accelerated the rally, according to Fortune.

The daily structure is unambiguously bullish, with Bitcoin trading well above all three EMAs and expanding momentum. However, the same chart flashes an overbought RSI at 82.32, which historically precedes at least a pause.

Shorter timeframes confirm the bullish bias without yet screaming exhaustion, though momentum intensity is beginning to decelerate. The market is caught in a genuine tug-of-war between daily exhaustion signals and shorter timeframes that have not broken down yet.