Bitway (BTW) extended its parabolic run on October 14, reaching a record high of $2.7536 on Binance’s BTW/USDT perpetual contract. The daily candle was up roughly 25.83%, with the token trading near $2.62 after opening the session at $2.0852. The move follows an October 13 advance that had already pushed BTW to about $1.88, according to CoinGecko data.
Longer-term momentum has been exceptional. BTW rose about 60% over seven days and 170% over 30 days, while Bitcoin and Ethereum slipped between 0.5% and 2% over the same period. CoinGecko noted that BTW was trending among the most searched coins after gaining 41.4% and breaking into the top 20 cryptocurrencies by market capitalization. Technical indicators show the rally is stretched: the 7-day RSI was reported at 85.08, while daily RSI near 81.86 signals overbought conditions, even as MACD lines remain widening and the histogram is rising.
Supply data, however, highlights potential risk. According to CoinMarketCap, one wallet controls 78% of the 10 billion BTW supply, and the top 33 wallets collectively hold 99.74%. Trading turnover is only 1.93%, meaning relatively small flows can create outsized price moves. A scheduled unlock of 101.62 million tokens occurred on October 2, valued at roughly $137.7 million at the time. On the product side, Bitway Earn reportedly has about 75,000 monthly users, and the project is building Bitway Ledger L1, a Bitcoin-compatible chain, alongside lending and payment products. Past rallies have followed exchange campaigns, including Binance Wallet Booster seasons and futures listings on Gate.io.
The broader crypto backdrop remains cautious. Bitcoin traded near $83,500 ahead of US CPI data due October 14, with resistance between $84,000 and $85,071 and support at $82,000–$82,500. Traders are also watching Treasury yields, oil above $105 a barrel, ETF outflows, and weakness in Asian technology stocks. For BTW, traders may watch whether the token can hold above the $1.75 area, the top of its previous consolidation zone.
