Bitcoin Momentum Builds While Ethereum Moves Closer to Glamsterdam -

Bitcoin is approaching a key resistance zone as the crypto market begins the week of Oct. 5, while Ethereum developers prepare for another major upgrade test and traders await fresh U.S. economic data.

BTC moved back above $86,000 early Monday and briefly reached close to $87,000 before giving up some of the gains. The rally brought bitcoin within striking distance of an eight-month high, putting renewed attention on the U.S. dollar and whether continued dollar strength could limit further upside.

Bitcoin’s technical structure is also strengthening. The 50-, 100- and 200-day moving averages are moving toward a fully bullish alignment, which would be the first since 2025. The potential crossover adds to evidence that bitcoin’s recovery over the past three months remains on solid technical footing.

Macro markets face a busy schedule, with the September FOMC minutes, U.S. jobless claims and consumer credit figures among the week’s main releases. Eurozone retail sales and the preliminary Michigan consumer sentiment reading will also be watched.

Ethereum will have its own major development as core developers prepare to execute the “Glamsterdam” upgrade on Sepolia. The test will focus on proposed improvements to account abstraction and data availability and could help determine readiness for a future mainnet deployment.

What to Watch

All times ET

Crypto

Ethereum developers are scheduled to run Glamsterdam on the Sepolia testnet. The deployment is designed to test account abstraction enhancements and data availability optimizations ahead of a potential mainnet implementation.

Macro

Oct. 6, 5:00 a.m.: Eurozone Retail Sales MoM for August — 0.4% estimate, compared with -0.6% previously
Oct. 7, 2:00 p.m.: U.S. FOMC Meeting Minutes from the Sept. 15-16 meeting
Oct. 7, 3:00 p.m.: U.S. Consumer Credit for August — $12.5 billion estimate, compared with $18 billion previously
Oct. 8, 8:30 a.m.: U.S. Initial Jobless Claims for the period ending Oct. 3 — 195K estimate, compared with 197K previously
Oct. 9, 10:00 a.m.: U.S. Michigan Consumer Sentiment Index preliminary October reading — 48.1 estimate, compared with 48.1 previously

Earnings

None scheduled.

Token Events

Aave: Aave is voting on a proposal to let Sentora manage an independent lending market under a 50/50 profit-sharing arrangement. The Aave Request for Final Comment (ARFC) would allow Sentora to operate externally curated Hub and Spoke instances on Aave V4, with Ethereum selected for the initial deployment.

Sentora would manage collateral selection, risk parameters and interest-rate curves independently of the Aave DAO’s core risk mandate. Aave DAO would retain administrative ownership of the smart contracts and receive 50% of revenue. Voting ends Oct. 5.

AirSwap: A signaling vote is underway on whether Consensys should temporarily stop automated AST sales if the token trades below its self-established minimum threshold. The sales are intended to fund operational expenses. Voting ends Oct. 5.

Derive: A DIP proposes increasing the share of applicable protocol fees allocated to weekly DRV buybacks from 35% to 50%. No changes would be made to the existing execution schedule or buyback mechanism. Voting ends Oct. 5.

Balancer: A joint treasury resolution is being considered as part of Balancer’s recent wind-down plan. It would settle token-swap obligations between BalancerDAO and CoW DAO and outline the orderly return and pro-rata distribution of treasury-held COW and BAL. Voting ends Oct. 6.

Unlocks

Oct. 5: Canton (CC) — 0.38% of circulating supply, valued at $19.18 million
Oct. 8: Stable (STABLE) — 3.3% of circulating supply, valued at $24 million