Smaller altcoins shine as bitcoin stills trades around $85,000
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Smaller coins are stealing the spotlight again as bitcoin BTC $83,874.11, ether ETH $2,615.51 and other major cryptocurrencies are still trading in a choppy range, while.
Key facts
- Smaller coins are stealing the spotlight again as bitcoin BTC $83,874.11, ether ETH $2,615.51 and other major cryptocurrencies are still trading in a choppy range
- Filecoin's FIL and LayerZero's ZRO have gained 12% and 10%, respectively, in 24 hours, and both are up 50% or more over four weeks
- BTW has also been drawing attention on social media, following the end of Binance Wallet's "Booster Season 5" campaign on Oct. 2
- A break below $84K would signal a victory for the bears, and a break below the recent local lows at $83K would confirm this with even greater certainty
Summary
Bitway’s BTW token rose 25 percent in 24 hours and 170 percent over the past month, leading a broader rally among smaller cryptocurrencies. Bitcoin traded near $85,900, with analysts warning that a drop below $84,000 could open the way for a swift decline toward $80,000. Bitcoin derivatives positioning stabilized as open interest held near $21.9 billion, funding rates cooled and 24-hour liquidations reached $163 million. Leading the gains is BTW, the native token of Bitway, a bitcoin-compatible layer-1 blockchain with proof-of-stake consensus and decentralized finance (DeFi) infrastructure.