Bitway (BTW) has become one of crypto’s biggest winners, even as traders bet heavily on its collapse. The token hit a record $2.75 on October 14 before retreating to $2.45, still up 27.5% in 24 hours.
Those betting against the rally paid dearly. Nearly $2.9 million in short positions were liquidated in a single day, according to CoinGlass.
So what is driving this little-known token, and how much higher can it go?
Why Is Everyone Suddenly Buying Bitway?
Bitway is a crypto project offering yield-earning products and developing a Bitcoin-compatible blockchain. Its BTW token supports staking, rewards and governance.
The rally has no obvious single catalyst. Binance Wallet campaigns and Bitway Earn programs have encouraged token lockups, while Bitrue added BTW trading on October 13.
Supply may explain the sharp gains. According to CoinGecko, only 1.5 billion of BTW’s 10 billion tokens are circulating. That limited supply can amplify buying pressure.
The rally also pushed BTW into CoinGecko’s most-searched cryptocurrencies.
Traders Are Betting $100,000 on a Crash
Crypto trader Crypto__Haris disclosed a $100,000 short position, predicting a possible 60%–80% collapse after BTW’s roughly 5,000% rally.
But betting against this momentum has proved expensive.
CoinGlass recorded $2.9 million in short liquidations against just $543,000 in long losses. Funding remains slightly negative, suggesting bearish positioning persists despite the rally.
Open interest reached $302 million, although the number of BTW tokens represented by outstanding positions remains below September peaks.
Can Bitway Reach $3, or Is a Crash Coming?
The warning signs are growing. BTW’s daily RSI has reached 81, suggesting overbought conditions. Trading volume is also weaker than during previous rallies.
Yet the bullish breakout remains intact.
A move above 2.75–2.81 could bring the psychological $3 level into view.
However, a daily close below $2.28 would signal weakening momentum. Losing $1.80 could trigger a much deeper correction.
For now, BTW remains vulnerable to a reversal, but traders betting on an immediate crash risk another short squeeze.
