Bitcoin Storms Past $79K Before Hitting Resistance Near $80K

Bitcoin surged past $79,000 on Monday morning, extending a sharp weekly rally that has seen the cryptocurrency gain more than 24% in the past seven days.

Market Momentum and Technical Indicators

The digital asset reached an intraday high of roughly $79,406 on Bitstamp before encountering selling pressure. Technical metrics show a deeply overbought daily RSI in the 79–82 range, while the MACD remains bullish with a positive histogram between 1,500 and 3,400.

ETF Inflows Drive Demand

U.S. spot bitcoin exchange‑traded funds (ETFs) attracted nearly $2 billion in inflows last week, according to Bloomberg senior ETF analyst Eric Balchunas. This influx represents the strongest weekly ETF flow since October 2025.

Additional Catalysts

Other factors supporting the rally include expanded U.S. Treasury buyback operations for 10‑ to 30‑year securities and heightened leverage activity. Approximately $337 million was liquidated across crypto derivatives on the day, including $66 million in BTC short positions.

Resistance and Upcoming Events

Bitcoin encountered resistance near $79,406, with the psychological $80,000 level remaining a key barrier. Traders are watching upcoming events such as the Jackson Hole central‑bank symposium and the Federal Reserve’s September rate decision, as well as geopolitical developments involving the U.S. and Iran.