After a bumpy opening to the week, Bitcoin appears to be recovering, with technical indicators suggesting a possible change in the market’s structure. Developers working on Ethereum are getting ready for a major testnet upgrade, while the next few days will see a large amount of macroeconomic data released that could influence crypto prices.
The technical picture is bullish. Bitcoin’s 50-, 100-, and 200-day moving averages are converging toward their first fully bullish alignment since 2025, according to the report. That signals that the cryptocurrency’s three-month recovery remains structurally intact, even as it faces pressure from dollar strength.
That signals that the cryptocurrency’s three-month recovery remains structurally intact, even as it faces pressure from dollar strength.
The dollar is being watched by traders for signs that BTC might either push past its current rally or let its gains settle in. The cryptocurrency recovered $86,000 early Monday and rose as high as $87,000, getting close to a level it hasn’t reached in eight months, before turning back down again.
The Glamsterdam Test
Sepolia’s upgrade is coming soon, and it carries the weight of preparing Ethereum’s mainnet for two major changes: account abstraction improvements and data availability optimizations. Developers are readying themselves for the “Glamsterdam” testnet update, which serves as a crucial trial run before those alterations reach the network’s live version.
A test of whether the changes hold up in practice comes before they land on the live network — that is what the upgrade represents. It shows the Ethereum protocol is moving forward with its roadmap.
Data Dumps Ahead
The macro calendar is packed this week. Key releases include:
- ISM Services PMI
- FOMC minutes from the Sept. 15-16 meeting
- Jobless claims for the period ending Oct. 3
- Michigan Consumer Sentiment Index Prelim for October
The economic environment that surrounds crypto markets is shaped by these figures, which traders watch closely for clues about inflation, job trends, and how central banks are thinking.
Token Votes and Unlocking
This week, a number of governance votes are underway. Aave has put forward a proposal to permit an outside firm to manage a separate, independent lending market on its platform, with the profits split between the two parties 50/50. The proposal would see Sentora operate externally curated Hub and Spoke instances on Aave V4, while the DAO keeps smart contract admin ownership and receives a 50% revenue share.
A signaling vote is underway at AirSwap regarding whether Consensys should temporarily halt its automated AST token sales when the market price drops too low. Members of the community are showing their position on whether Consensys should put its AST sales on hold to fund operational costs whenever token prices sink below the threshold it set for itself.
The Derive community is weighing a plan that would raise the portion of protocol fees set aside for weekly DRV repurchases from 35% to 50%. The change increases the fee allocation rate, though it leaves all current systems untouched.
The joint treasury resolution is currently being voted on by Balancer, following the recent protocol wind-down plan. It settles cross-DAO token swap commitments between BalancerDAO and CoW DAO. The proposal lays out the orderly return and pro-rata distribution of treasury-held COW and BAL assets.
No major token launches are confirmed.
The Week Ahead
Traders are being given a clear picture of what they should keep an eye on over the next few days. The Glamsterdam testnet upgrade for Bitcoin’s technicals are flashing green, but traders are monitoring dollar strength for clues on whether BTC can extend its rally or consolidate gains. Ethereum’s upgrade, which is taking place on Sepolia, serves as a trial run before the mainnet rollout. Meanwhile, the governance votes at Aave, AirSwap, Derive, and Balancer will determine how those protocols function from now on.
Bitcoin’s brief touch of $87,000 near an eight-month high shows the market’s appetite, but the reversal suggests consolidation may be coming.
This is a week of testing — for bitcoin’s technical foundation, for Ethereum’s upcoming upgrade, and for the governance processes that shape how these protocols are run. The data dumps will add to the noise.
Key Facts Box
- Bitcoin reached $87,000 early Monday, nearing an eight-month high
- Moving averages converge toward first fully bullish alignment since 2025
- Glamsterdam testnet upgrade on Sepolia
- Aave vote ends Oct. 5
- AirSwap vote ends Oct. 5
- Derive vote ends Oct. 5
- Balancer vote ends Oct. 6
- FOMC minutes released Oct. 7
- Jobless claims for period ending Oct. 3 released Oct. 8
Source material: “Technicals signal bitcoin shift, Ethereum gears up for Glamsterdam: Crypto Week Ahead,” CoinDesk.
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