Bitway Leads the Rally: BTW +24.3% on the Day

What Moved

Crypto had a strong day. Total market capitalisation rose +14.7% to $2.92T over the 24 hours to 00:52 UTC, the kind of move that lifts most of the market with it.

Bitcoin set the tone, rising +2.7% to $83,415 while the median large asset moved +1.0%; its share of the market eased to 57.4%. Ethereum gained 3.9% to $2,506.

Breadth was strong: 1618 assets advanced against 747 that declined, and 77.0% of the hundred largest closed higher.

Bitway (BTW) was the day's strongest mover at +24.3%, ahead of INJ (+15.3%). At the other end, Beldex (BDX) fell 12.8%, with QNT (-5.3%) close behind. By sector, Zero Knowledge led (+8.3%) while RWA trailed (-0.1%).

Volume and Leverage

We measured $60.6B of spot turnover, -8.3% on the previous session — nothing unusual in participation. Spot on centralised exchanges accounted for $59.6B, on-chain swaps $1.99B and derivatives $82.1B.

Liquidations were contained at $139M, split between longs ($68.1M) and shorts ($71.2M). Open interest across the venues we track is $63.2B.

Sentiment

Sentiment is greed: our Fear & Greed index reads 60 (55 yesterday, 55 last week).

Sectors

Rotation was visible at the sector level. Zero Knowledge finished +8.3% while RWA closed -0.1%, a spread of 8.3 points across the 10 sectors we track; 9 of them rose and 1 fell, with the middle of the pack (Layer 1) at +3.1%. RWA lagging a rising market suggests the bid was selective rather than indiscriminate.