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Crypto Outlook This Week: Bitcoin Nears Eight-Month High as Ethereum Preps Glamsterdam Testnet Upgrade
Crypto markets are entering the week on a volatile footing, with bitcoin reclaiming $86,000 on Monday and briefly approaching an eight-month high near $87,000 before pulling back, according to CoinDesk, as traders watch dollar strength for cues on whether the rally extends or consolidates. Bitcoin's 50-, 100- and 200-day moving averages are converging toward their first fully bullish alignment since 2025, suggesting the three-month recovery remains structurally intact. This week brings a busy U.S. macro slate — ISM Services PMI, FOMC minutes and jobless claims — while Ethereum developers gear up for the Glamsterdam upgrade on the Sepolia testnet, a key dress rehearsal for mainnet, alongside governance votes at Aave, AirSwap, Derive and Balancer.
Macro:
• Oct. 6, 5:00 a.m. ET – Eurozone Retail Sales MoM for August, est. 0.4% (prev. -0.6%)
• Oct. 7, 2:00 p.m. ET – U.S. FOMC Meeting Minutes (Sept. 15-16 meeting)
• Oct. 7, 3:00 p.m. ET – U.S. Consumer Credit for August, est. $12.5 billion (prev. $18 billion)
• Oct. 8, 8:30 a.m. ET – U.S. Initial Jobless Claims for period ending Oct. 3, est. 195K (prev. 197K)
• Oct. 9, 10:00 a.m. ET – U.S. Michigan Consumer Sentiment Index preliminary for October, est. 48.1 (prev. 48.1)
Crypto:
• Oct. 5-6 (week of Oct. 5) ET – Ethereum core developers execute the Glamsterdam upgrade on the Sepolia testnet, a critical dress rehearsal for mainnet implementation of account abstraction enhancements and data availability optimizations
Token Events:
• Oct. 5 ET – Aave vote ends on an ARFC proposal letting an outside firm operate independently curated Hub and Spoke lending markets on Aave V4, initially on Ethereum, with profits split 50/50 and the DAO retaining contract admin rights and 50% revenue share
• Oct. 5 ET – AirSwap signaling vote ends on whether Consensys should temporarily pause automated sales of AST tokens for operating expenses if the market price falls below its self-set minimum threshold
• Oct. 6 ET – Balancer vote ends on a joint treasury resolution to settle cross-DAO token swap commitments with CoW DAO, detailing the orderly return and pro-rata distribution of treasury-held COW and BAL assets
Macro:
• Oct. 6, 5:00 a.m. ET – Eurozone Retail Sales MoM for August, est. 0.4% (prev. -0.6%)
• Oct. 7, 2:00 p.m. ET – U.S. FOMC Meeting Minutes (Sept. 15-16 meeting)
• Oct. 7, 3:00 p.m. ET – U.S. Consumer Credit for August, est. $12.5 billion (prev. $18 billion)
• Oct. 8, 8:30 a.m. ET – U.S. Initial Jobless Claims for period ending Oct. 3, est. 195K (prev. 197K)
• Oct. 9, 10:00 a.m. ET – U.S. Michigan Consumer Sentiment Index preliminary for October, est. 48.1 (prev. 48.1)
Crypto:
• Oct. 5-6 (week of Oct. 5) ET – Ethereum core developers execute the Glamsterdam upgrade on the Sepolia testnet, a critical dress rehearsal for mainnet implementation of account abstraction enhancements and data availability optimizations
Token Events:
• Oct. 5 ET – Aave vote ends on an ARFC proposal letting an outside firm operate independently curated Hub and Spoke lending markets on Aave V4, initially on Ethereum, with profits split 50/50 and the DAO retaining contract admin rights and 50% revenue share
• Oct. 5 ET – AirSwap signaling vote ends on whether Consensys should temporarily pause automated sales of AST tokens for operating expenses if the market price falls below its self-set minimum threshold
• Oct. 6 ET – Balancer vote ends on a joint treasury resolution to settle cross-DAO token swap commitments with CoW DAO, detailing the orderly return and pro-rata distribution of treasury-held COW and BAL assets
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