Bitway Smashes $2.77 All-Time High as Short Squeeze Fuels 103% Weekly Rally

Published October 14, 2026, 05:10 UTC. Based on CoinGecko market data for Bitway (BTW) checked October 14, 2026, CoinStats derivatives analysis of October 13, 2026, the Bitcoin Foundation's October 13 price report, CryptoNews coverage of October 13, 2026, and Bitrue's Bitway token-unlock analysis.

Bitway (BTW) printed a new all-time high of $2.77 on the morning of October 14, extending one of the most violent rallies of the year and turning the Bitcoin-compatible Layer 1 token into the 20th largest cryptocurrency by market value.

A $2.77 record before breakfast

CoinGecko market data shows BTW hit its $2.77 record at 03:49 UTC on October 14, a fresh all-time high that capped a 103.2% gain over seven days. The token was changing hands near $2.48 at 05:00 UTC, up 36.7% over 24 hours, with a market capitalization of about $6.77 billion and $150.75 million in 24-hour trading volume. That puts Bitway ahead of most of the market: the broader rally came while bitcoin and ether moved only modestly, a divergence that has defined BTW's run for weeks. The Bitcoin Foundation reported on October 13 that the token had already set a then-record of $1.83 that day, up 6.2%, after gaining 50.7% in seven days and 148.5% in 30 days, numbers that now look like the midpoint of the move rather than its peak.

The short squeeze fueling the move

Derivatives data tracked by CoinStats points to forced buying as a key engine of the rally. Open interest stood at $300.80 million, up 18.71% over two days, a sign that new capital is entering the market rather than old positions rotating. The funding rate was negative at -0.0108% per eight hours, meaning short sellers were still paying longs to hold their positions, and the pain was visible: over one 24-hour stretch, liquidations totaled $546.51K across Binance, Bybit and OKX, and $523.67K of that, or 95.8%, was short positions being stopped out. The largest single four-hour liquidation event, worth $210.79K, occurred at 4:00 AM UTC on October 11. Market observer Alix l Insider noted on October 12 that about 79% of accounts were shorting the top while ultra-whales stacked longs, a lopsided setup that kept feeding the squeeze as each new high punished the shorts.

Thin float, big moves

Market trackers attribute part of BTW's violence to its structure rather than any single catalyst. Only about 27% of the token's 10 billion maximum supply is in circulation, and analysts noted that earlier records printed on thin turnover, with one session seeing just $24.2 million of 24-hour volume, according to Cryptoticker via CoinStats. A small free float means every wave of derivatives-driven buying lands on a thin order book, amplifying moves in both directions. Gate exchange data cited in October 13 coverage showed the token climbing from a low of $0.4457 to a phase high of $1.75, a 226.23% gain over 30 days, a level identified as technical resistance that the token has since moved cleanly through. Spot trading is concentrated on Gate and Bitget, which lead BTW/USDT volume.

The unlock overhang

The rally has continued through a scheduled token unlock that analysts flagged as the largest dollar-value release of the month. On October 2, 101.62 million BTW entered circulation, roughly 1.02% of the 10 billion maximum supply and worth about $128.5 million at then-current prices, according to CryptoRank data cited by Bitrue. The release continues the monthly vesting cadence Bitway has followed since its token generation event on March 2, 2026, and lifted circulating supply to roughly 2.91 billion BTW, about 29.1% of the maximum. Bitrue's analysis found that past BTW unlocks produced an average worst-case drawdown of 4.5% within seven days, though results ranged from a 28.6% decline to a 25.6% gain. That the October unlock was absorbed without derailing the rally has added to the bullish tape, though team and backer vesting through 2030 remains the structural overhang shorts are watching.

The Bitcoin-compatible pitch

Beyond the trading mechanics, Bitway positions itself as a Bitcoin-compatible Layer 1 blockchain and financial infrastructure project, described in community coverage as an "internet capital gateway" aiming to bridge Bitcoin liquidity with DeFi. Whether that thesis supports a $6.77 billion valuation is the open question. The 30-day tape, from $0.4457 to $2.77, has been driven far more by derivatives positioning and retail momentum than by protocol milestones, and CoinStats noted that the move appears catalyst-driven by social sentiment rather than fundamental news, making it vulnerable to rapid reversals if promotional momentum fades. The near-term test is whether daily volume sustains above $100 million and whether the token can hold above its new breakout levels now that every bear is on record as squeezed.

This article is news reporting and is not investment advice.

Sources

• CoinGecko market data for Bitway (BTW), checked October 14, 2026 at 05:00 UTC, primary source for the $2.77 all-time high at 03:49 UTC, the $2.48 price, 36.7% 24-hour gain, 103.2% 7-day gain, $6.77 billion market cap, 20th rank, $150.75 million 24-hour volume, and Gate, Bitget, MEXC and HTX as leading spot venues
• CoinStats AI, "Bitway (BTW) News Today: Why BTW Is Up, 13 October 2026", secondary source for the $300.80 million open interest figure, the 18.71% two-day increase, the -0.0108% per eight hours funding rate, the $546.51K of 24-hour liquidations with $523.67K (95.8%) shorts, the $210.79K October 11 liquidation event, the ~27% circulating supply figure via Pluang, the $24.2 million record-day turnover via Cryptoticker, and the Gate data showing the $0.4457 to $1.75 climb (226.23% over 30 days)
• Bitcoin Foundation, "Bitway (BTW) Price Hits New All-Time High as Token Defies Crypto Market Slump" (October 13, 2026), secondary source for the then-record $1.83 high on October 13, the 6.2% daily gain, the 50.7% seven-day and 148.5% 30-day gains, and the Alix l Insider October 12 observation that 79% of accounts were shorting while ultra-whales held 67.3% of long leverage
• CryptoNews, "Bitway Crypto Hits All-Time High as Bitcoin Tests Resistance" (October 13, 2026), secondary source for the October 13 high near $1.90 and the contrast with flat bitcoin and ether performance
• Bitrue, "Bitway (BTW) Token Unlock October: Date, Amount and Price Impact", secondary source for the October 2 unlock of 101.62 million BTW, the 1.02% of maximum supply, the ~$128.5 million value per CryptoRank, the ~2.91 billion circulating supply after the unlock, the March 2, 2026 token generation event, and the 4.5% average worst-case seven-day drawdown after past unlocks
• CoinMarketCap community coverage, secondary source for Bitway's positioning as a Bitcoin-compatible Layer 1 blockchain and "internet capital gateway" bridging Bitcoin liquidity with DeFi