Why did Bitcoin tokens soar 100% this week? Can the rise continue?

Bitway tokens rose by more than 100% on the seventh day, but overbought signals and centralized clearing risks triggered concerns about a correction.

On August 18, Bitway tokens continued their seven-day gains, rising by more than 100%, and the trading price was close to US$0.37. This round of increase was mainly due to increased demand brought by incentive activities, but overbought conditions and concentrated liquidation levels increased the risk of a sharp price correction.

Market Summary

Bitway token rose more than 100% in seven days and briefly exceeded $0.40. Ecosystem pledge incentives and Bitway booster activities launched by related wallets supported market demand. The daily RSI indicator reached 76.85, indicating that BTW has entered the overbought area. Liquidation liquidity is concentrated around $0.30 and in the range of $0.42 to $0.44.

According to market data, BTW's rise started after Bitway launched an incentive decentralized traditional financial pledge program on August 13. The plan offers a basic annualized rate of return of 8% paid in TEDA dollars, plus a 4% return on platform points.

For BitwayCore Alpha strategic users, the zero-fee lightning de-pledge function will be launched tomorrow, and BW points conversion is scheduled to take place on August 8. In addition, details of the upcoming Bitway August pledge plan are as follows:

Duration: August 1 to September 1, 2026 (UTC 0:00)
Basic annualized rate of return: 8%

The fourth-quarter Bitway Booster event launched by related wallets provided an additional annualized rate of return of more than $200,000, becoming another catalyst. This combination of measures encourages holders to deposit BTW in supported products, while also bringing new attention to tokens.

BTW rose from below US$0.20 at the beginning of the seven-day cycle to a peak of around US$0.44 on a trading platform on August 17. The token price subsequently fell back, but as of writing, it had recovered to approximately $0.37.

Bitway prices hold on to most of the week's gains.

The daily chart shows that BTW accelerated after breaking through US$0.10 in early August. Buyers then quickly broke through the $0.20 and $0.30 barriers, and the price briefly touched above $0.40.

On August 18, BTW traded at approximately US$0.374, up approximately 4.5% on the day. The rebound came after falling to $0.340 during the day, indicating that buyers remained active below $0.35.

Prices are still well above all three moving averages shown in the chart. The 20-day moving average is at $0.2136, while the 50-day and 100-day moving averages are close to $0.1252 and $0.0860 respectively. The long ranking of these moving averages confirms that the overall trend is still upward. However, the huge gap between current market prices and the 20-day moving average suggests that BTW is rising far faster than its recent baseline, making it vulnerable to profit-taking.

The daily RSI is 76.85, and its signal average is 78.05. A reading above 70 usually indicates an overbought condition, although tokens may remain overbought during periods of strong momentum gains.

Reward activities drive a 100% increase

The rise in BTW occurred at a time when Bitcoin and several large altcoins were difficult to gather momentum. As a result, project-specific incentives seem to have played a greater role than the strength of the overall crypto market.

The TEDA coin-denominated portion of the Bitway pledge program may be particularly attractive because it provides participants with stablecoin returns rather than paying all the proceeds in BTW. Locking tokens in pledged products can also reduce the ready-to-use supply, although existing charts do not determine how much BTW has been removed from exchanges.

Trading activity increases as prices rise, based on market data updates cited in the analysis. However, the speed of the increase means that continued growth may depend on whether new participants join after the promotion ends.

BTW's valuation also has long-term concerns. Data cited in the market update showed that its outstanding market value was close to US$974 million, with a fully diluted valuation of approximately US$3.59 billion. This gap could expose the holder to the risk of future dilution if additional tokens enter circulation.

BTW needs to exceed US$0.40 to continue to rise

The 4-hour chart provides buyers with a clearer near-term test. BTW traded at $0.374, above $0.341 on the middle rail of the Bollinger Band but below $0.403 on the upper rail.

Continued breakthroughs in the US$0.40 to US$0.403 range will indicate that buyers have absorbed supply near recent rebound highs. Above this range, the upper shadow line, which was previously close to $0.44, will become the next resistance level.

A cryptocurrency analyst identified a downward wedge pattern after BTW's first correction and said that if the price clearly breaks around $0.38, it could open the way to $0.46. Prices have since tested breakthrough areas, but have not yet confirmed the analyst's higher target.

The Chaikin Fund Flow Indicator reading on the 4-hour chart is 0.15, still above zero. The indicator showed that buying pressure still exceeded selling pressure during the time frame, supporting a rebound from the $0.34 area.

If the closing price falls below around US$0.341 in the middle track of the Bollinger Band, it will weaken the current bull pattern. Further declines may hit the lower track near US$0.279, while the early breakthrough area of US$0.20 to US$0.22 on the daily chart constitutes a deeper support area.

Liquidation levels may amplify the next trend

The one-week liquidation heat chart shows that leveraged positions are concentrated on both sides of the current price. The closest upper cluster appears around $0.38 to $0.39, followed by denser clusters between $0.42 and $0.44.

Rises above $0.40 could force short positions to close and help push BTW towards the upper cluster. Such a move would bring the token closer to recent highs and analysts '$0.46 target.

is located near $0.30 to $0.31. Other concentration areas appear near $0.28 and between $0.23 and $0.25.

Liquidation charts identify areas where leveraged positions may be forced to close, but there is no guarantee that prices will hit these levels. In the case of BTW, the dense liquidity below the market suggests that if buyers stop defending $0.34, the correction could deepen quickly.

Can Bitway's rally continue?

As long as BTW trades above US$0.341, its long structure remains, and a positive 4-hour flow supports another attempt to hit US$0.40. If a breakthrough of US$0.403 is confirmed, US$0.44 and US$0.46 may be included in the horizon.

Despite this, this rally is still accompanied by high risks. The daily RSI is overbought, the price is well above its moving average, and the tokens have experienced large intra-day fluctuations. If you fail to hold on to $0.34, your attention may turn to $0.30, then $0.28.

Investors in certain regions should also consider channel access and liquidity issues before trading BTWs. Charts use pricing for specific trading platforms, while availability, spreads and execution may vary from platform to platform.

Bitway's promotional incentives explain some recent demand, but there is still buying activity after the persistent strong need for reward-driven craze has subsided. The next decisive signal will come from whether BTW converts $0.40 into support or loses its bottom line of $0.34.