Bitcoin Nears Eight-Month High as Ethereum Prepares for Glamsterdam Upgrade
Bitcoin has started the week on a volatile note, briefly hitting $87,000 before pulling back. The cryptocurrency is nearing an eight-month high, with traders watching dollar strength for clues on whether BTC can sustain its rally. The 50-, 100-, and 200-day moving averages are converging toward a fully bullish alignment, a signal not seen since 2025, indicating that Bitcoin's three-month recovery remains structurally intact.
Meanwhile, macroeconomic events are in focus, including the ISM Services PMI, FOMC minutes, and jobless claims in the U.S. Ethereum developers are preparing for the 'Glamsterdam' testnet upgrade on Sepolia, a critical step before implementing account abstraction enhancements and data availability optimizations on the mainnet.
Several token events are also on the horizon. Aave is voting on allowing an outside firm to manage a new lending market, with profits split 50/50. AirSwap is holding a vote on whether Consensys should pause automated sales of AST tokens if prices drop too low. Derive is voting to increase the share of protocol fees allocated toward weekly DRV buybacks, and Balancer is addressing a joint treasury resolution following a recent protocol wind-down plan.
Additionally, two token unlocks are scheduled: Canton (CC$) will unlock 0.38% of its circulating supply on October 5, and Stable (STABLE) will unlock 3.3% on October 8. No major token launches are confirmed, but several conferences, including Digital Assets Week in London and TOKEN 2049 in Singapore, are set for the coming days.