Bitcoin Volatility and Ethereum Upgrade Highlight Crypto Week Ahead
Bitcoin is kicking off the week with volatility, briefly touching $87,000 before retreating. The cryptocurrency regained $86,000 early Monday, nearing an eight-month high. Traders are watching dollar strength for clues on whether BTC can extend its rally or consolidate gains. Bitcoin's 50-, 100-, and 200-day moving averages are converging toward their first fully bullish alignment since 2025, indicating that its three-month recovery remains structurally intact.
Meanwhile, macroeconomic events are also in focus, including the ISM Services PMI, FOMC minutes, and jobless claims in the U.S. On the protocol front, Ethereum developers are preparing for the 'Glamsterdam' testnet upgrade on Sepolia, which marks a critical dress rehearsal for mainnet implementation of account abstraction enhancements and data availability optimizations.
Several major token events are also on the horizon. Aave is voting on allowing an outside firm, Sentora, to manage a new independent lending market on its platform. The proposal suggests a 50/50 profit split and is set to end voting on October 5. AirSwap is holding a signaling vote on whether Consensys should temporarily pause its automated sales of AST tokens if the market price drops too low, with voting also ending on October 5. Derive is voting on increasing the share of protocol fees allocated toward weekly DRV buybacks from 35% to 50%, with voting ending on October 5. Balancer is voting on a joint treasury resolution following the recent protocol wind-down plan, with voting ending on October 6.
Other notable events include the unlocking of Canton CC and Stable STABLE tokens on October 5 and October 8, respectively. No major token launches are confirmed, but several conferences, such as Digital Assets Week in London and TOKEN 2049 in Singapore, are scheduled for the upcoming days.