CoinDesk
Bitway's BTW token rose 25% in 24 hours and 170% over the past 30 days, leading gains among smaller cryptocurrencies. Bitcoin traded near $85,900, while Filecoin's FIL gained 12% and LayerZero's ZRO advanced 10% over the same 24-hour period. Both were up at least 50% over four weeks.
Why it matters
The move points to renewed strength in smaller altcoins while Bitcoin and Ether remain in a choppy range. BTW is Bitway's native token; the project is a Bitcoin-compatible layer-1 with proof-of-stake consensus and DeFi infrastructure. Its rally drew social media attention after Binance Wallet's Booster Season 5 campaign ended Oct. 2, though the campaign's role in the move is uncertain.
Market impact
Bitcoin derivatives positioning showed signs of cooling rather than a clear directional shift. Open interest held near $21.9 billion, funding rates eased to roughly 0–5% annualized across venues, and 24-hour liquidations totaled $163 million. Options flow remained call-skewed, with calls accounting for 62% of put/call volume.
Bitcoin's near-term levels remain in focus. Alex Kuptsikevich of TheFxPro said a break below $84,000 could open the way toward $80,000, with a move below recent local lows near $83,000 adding confirmation. For now, the altcoin rally is unfolding alongside a range-bound Bitcoin market, not a clear break higher.
Frequently asked questions
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How much has Bitway's BTW gained over 30 days?
BTW is up 170% over the past 30 days, after rising 25% in the latest 24-hour period.
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What is Bitway's BTW token associated with?
BTW is the native token of Bitway, a Bitcoin-compatible layer-1 with proof-of-stake consensus and DeFi infrastructure.
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What price levels could put Bitcoin under pressure?
TheFxPro's Alex Kuptsikevich said a break below $84,000 could open a path toward $80,000. He said a break below recent local lows near $83,000 would add confirmation.
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What did Bitcoin derivatives data show?
Open interest held near $21.9 billion, funding rates cooled to roughly 0–5% annualized, and 24-hour liquidations totaled $163 million.
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Which other altcoins posted notable gains?
Filecoin's FIL gained 12% and LayerZero's ZRO rose 10% in 24 hours. Both were up at least 50% over four weeks.
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