Crypto Rally Cools as Traders Turn Attention to Key U.S. Labor Data -

Bitcoin and the broader crypto market enter the week of Sept. 28 with momentum easing after a strong rally, putting the spotlight on a series of U.S. economic releases.

Bitcoin has declined roughly 1% since Friday and more than 2% in the past 24 hours, pulling back from the $84,000 area.

Traders are weighing the recent price gains after last week’s Federal Reserve decision, which raised the benchmark target rate to 4% and was viewed as hawkish. Attention now shifts to economic indicators that could influence expectations for future monetary policy.

The calendar features U.S. housing, GDP, inflation, employment and manufacturing data. Global markets are also assessing the policy outlook following recent decisions by the Bank of Japan and Bank of England.

Key Dates

All times ET

Crypto

Sept. 28: Solana opens the activation window for its Alpenglow consensus upgrade. The upgrade is set to replace TowerBFT with Votor and aims to reduce voting-related transaction overhead across the network.

Macro

Sept. 29, 9:00 a.m.: July S&P/Case-Shiller Home Price Index YoY — estimated at 2.2%, compared with 2.1% previously.

Sept. 30, 8:30 a.m.: Final Q2 U.S. GDP Growth Rate QoQ — expected at 1.5%, versus 2.1% previously.

Sept. 30, 8:30 a.m.: August Core PCE Price Index MoM — forecast at 0.3%, up from 0.2% previously.

Oct. 1, 8:30 a.m.: Initial Jobless Claims for the period ending Sept. 26 — estimated at 199,000, compared with 197,000 previously.

Oct. 1, 10:00 a.m.: September ISM Manufacturing PMI — expected at 54.8, versus 54.6 previously.

Oct. 2, 8:30 a.m.: September Nonfarm Payrolls — forecast at 84,000, compared with 162,000 previously.

Oct. 2, 8:30 a.m.: September Average Hourly Earnings MoM — estimated at 0.3%, matching the previous reading.

Earnings

No earnings releases are scheduled.

Token Governance

World Liberty Financial’s preliminary vote on its Governance Engagement Incentive Program ends Sept. 28. The proposal would begin Oct. 1 and use token rewards to encourage participation in community governance.

Balancer is voting on a plan to fork its core architecture and establish a new ecosystem. The vote ends Sept. 29 as the protocol considers its future amid a potential shutdown.

Decentraland is voting on a security-response proposal after more than 1,000 Decentraland Names were stolen from user accounts. The plan calls for an immediate investigation and temporary suspension or freezing of smart-contract activity, affected accounts and secondary transfers involving the names. Voting closes Oct. 1.