Bitcoin Nears Eight-Month High as Ethereum Preps Glamsterdam Upgrade
Bitcoin is starting the week on a volatile note, briefly reaching $87,000 before pulling back. The cryptocurrency has been regaining momentum, nearing an eight-month high, with traders watching dollar strength for further clues. Bitcoin's technical indicators, including its 50-, 100-, and 200-day moving averages, are converging toward a fully bullish alignment for the first time since 2025, suggesting its three-month recovery remains robust.
Meanwhile, 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. The upgrade is part of broader developments in the Ethereum ecosystem, alongside significant token events across Balancer, Aave, and AirSwap.
Macroeconomic factors are also in focus, with key U.S. economic data releases scheduled for the week, including ISM Services PMI, FOMC minutes, and jobless claims. These events could influence market sentiment and impact cryptocurrency prices.
Token events include governance votes on Aave, AirSwap, Derive, and Balancer, with decisions on lending markets, token sales, protocol fees, and treasury resolutions. Additionally, unlocks for Canton and Stable are scheduled, potentially affecting their circulating supplies.