Crypto markets opened the week on a volatile note, with bitcoin reclaiming $86,000 early Monday and briefly touching $87,000 — approaching an eight-month high — before reversing course. Traders are keeping a close eye on dollar strength for clues as to whether BTC can extend its rally or will instead consolidate gains.

Bitcoin's 50-, 100- and 200-day moving averages are converging toward their first fully bullish alignment since 2025, indicating that the cryptocurrency's three-month recovery remains structurally intact.

Macro attention now turns to a busy U.S. calendar headlined by ISM Services PMI data, the Federal Reserve's meeting minutes and weekly jobless claims. Together with the technical setup, those releases give traders several near-term indicators to monitor as they assess whether bitcoin's recovery is holding.

On the protocol side, Ethereum developers are preparing the "Glamsterdam" upgrade on the Sepolia testnet, while a heavy slate of governance votes and token unlocks is set to unfold across Balancer, Aave, AirSwap and Derive, among others. The week therefore combines market-wide economic data with software testing and project-level decisions across the crypto sector.

What to Watch (All times ET)

Crypto

Ethereum core developers are set to execute the Glamsterdam upgrade on the Sepolia testnet — a critical dress rehearsal for the mainnet implementation of account abstraction enhancements and data availability optimizations.

Macro

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

Earnings

None scheduled.

Token Events

Governance Votes and Calls

Aave — voting ends Oct. 5. Aave is voting on a proposal that would allow an outside firm to manage a new, independent lending market on its platform, with the two sides splitting the profits 50/50. The measure, known as an Aave Request for Final Comment (ARFC), proposes a deployment framework under which Sentora would operate externally curated Hub and Spoke instances on Aave V4, with an initial deployment authorized on Ethereum. Under the proposed model, Sentora would independently curate collateral, risk parameters and interest rate curves outside the Aave DAO's core risk mandate, while the DAO retains smart contract admin ownership and receives a 50% revenue share.

AirSwap — voting ends Oct. 5. AirSwap is holding a signaling vote on whether Consensys should temporarily pause its automated sales of AST tokens if the market price drops too low. Community members are indicating whether the planned AST sales, which cover operational expenses, should be halted whenever the token's price falls below its self-established minimum threshold.

Derive — voting ends Oct. 5. A Derive Improvement Proposal (DIP) would increase the share of applicable protocol fees allocated toward weekly DRV buybacks from 35% to 50%. The existing execution cadence and buyback mechanisms would remain unchanged, with the update purely boosting the fee allocation percentage.

Balancer — voting ends Oct. 6. Balancer is voting on a joint treasury resolution following its recent protocol wind-down plan. The proposal seeks to settle cross-DAO token swap commitments between BalancerDAO and CoW DAO, detailing the orderly return and pro-rata distribution of treasury-held COW and BAL assets.

Unlocks

• Oct. 5: Canton (CC), at $0.1268, is set to unlock 0.38% of its circulating supply, worth $19.18 million.
• Oct. 8: Stable (STABLE), at $0.02706, is set to unlock 3.3% of its circulating supply, worth $24 million.

Token Launches

No confirmed major token launches.

Conferences

• Oct. 6-7: Digital Assets Week (London)
• Oct. 7-8: TOKEN 2049 (Singapore)

This article was originally published by CoinDesk.