Crypto Market Update

Crypto markets are starting the week with some volatility. Bitcoin bounced back to around $86,000 early Monday, even hitting $87,000 for a brief moment, which is close to its highest point in the last eight months, before taking a step back. Traders are keeping a careful watch on the strength of the dollar to figure out if Bitcoin can keep its upward momentum or if it will stabilize its gains.

Interestingly, Bitcoin’s 50-, 100-, and 200-day moving averages are converging towards what’s known as a bullish alignment—the first of its kind since 2025. This indicates that its recovery trend over the past three months is still solid.

On the macroeconomic front, attention shifts to a series of important U.S. reports, including the ISM Services PMI, FOMC meeting minutes, and jobless claims.

In protocol developments, Ethereum developers are preparing for the “Glamsterdam” testnet upgrade on Sepolia, with significant updates coming across platforms like Balancer, Aave, and AirSwap.

What to Watch

(All times ET)

• Crypto
  • Ethereum core developers will carry out the Glamsterdam upgrade on the Sepolia testnet. This is an important step towards implementing enhancements related to account abstraction and optimizing data availability in the mainnet.
• Macro
  • Oct. 6, 5:00 a.m.: Eurozone Retail Sales Month-on-Month for August is estimated at 0.4%, following a previous -0.6%.
  • Oct. 7, 2:00 p.m.: U.S. FOMC Meeting Minutes from the September 15-16 meeting.
  • Oct. 7, 3:00 p.m.: U.S. Consumer Credit for August is projected at $12.5 billion, down from $18 billion.
  • Oct. 8, 8:30 a.m.: U.S. Initial Jobless Claims for the week ending October 3 estimated at 195K, compared to the previous 197K.
  • Oct. 9, 10:00 a.m.: U.S. Michigan Consumer Sentiment Index Preliminary for October expected at 48.1, same as the previous estimate.
• Earnings

Token Events

• Governance Votes and Calls
  • Aave is currently voting on a proposal to enable an external firm to manage a new independent lending market on its platform. Under this plan, profits would be shared equally. This Aave Request for Final Comment (ARFC) suggests a deployment framework for Sentora to operate outside the Aave DAO, with initial deployment on Ethereum. The mechanics will allow Sentora to independently curate collateral and other parameters while keeping the smart contract admin rights with the DAO. Voting closes on Oct. 5.
  • AirSwap is conducting a signaling vote on whether Consensys should pause its automated sales of AST tokens if prices dip excessively. Community members are deciding on allowing a temporary halt to AST sales for operational costs should prices go below a certain threshold. Voting ends on Oct. 5.
  • Derive is voting on a proposal (DIP) to increase the share of protocol fees allocated for weekly DRV buybacks from 35% to 50%. This change would not alter the current buyback mechanics, only the fee allocation percentage. Voting terminates on Oct. 5.
  • Balancer has a proposal for a joint treasury resolution aimed at settling cross-DAO token swap commitments following a recent protocol wind-down. This proposal outlines the orderly distribution of treasury-held COW and BAL assets. Voting concludes on Oct. 6.
• Unlocks
  • Oct. 5: Canton will unlock 0.38% of its circulating supply, worth approximately $19.18 million.
  • Oct. 8: Stable will unlock 3.3% of its circulating supply, totaling around $24 million.
• Token Launches
  • No significant token launches are confirmed at this time.

Conferences