Bitcoin rose above $80,000 in Asian morning hours Tuesday, up 4% on the day and over 25% on the week, extending a rally that began with the Treasury's move to expand its bond buybacks.
Positioning is getting stretched, meanwhile. Bitfire Research pointed to a widely watched momentum gauge which compared recent gains against recent losses on a scale of zero to 100, sitting near 78 for bitcoin.
Anything above 70 is usually read as a sign that a price has climbed too far too fast and is due a pause. Bitfire signals selling pressure between $78,500 and $82,000, and buyers likely to step in around $72,400 to $73,500, per a note sent to CoinDesk.
Solana led the majors, up almost 8% to just above $101 and almost 35% over seven days. Ether added over 2% to just under $2,500 and is up almost 32% on the week. BNB rose over 2% to just under $714. XRP gained almost 2% to just above $1.50 and leads all majors on the week at over 52%.
