Bitcoin Rebound Faces Key Test as Ethereum Set for 'Glamsterdam' Upgrade
Summary
- Bitcoin has extended its recent rebound, with the market focused on whether the uptrend can continue.
- Bitcoin's 50-day, 100-day and 200-day moving averages are nearing bullish territory, signaling that the recovery remains structurally intact.
- Ethereum developers will carry out the Glamsterdam upgrade on the Sepolia testnet this week to test account abstraction and data availability improvements.
Forecast Trend Report by Period
Bitcoin has extended its recent rebound, with the market this week focused on whether the advance can continue and on Ethereum's planned 'Glamsterdam' testnet upgrade.
CoinDesk reported on October 5 that Bitcoin briefly approached $87,000 early in the session before surrendering part of its gains. Traders are also watching the dollar's direction as they assess whether Bitcoin's recovery over the past three months can be sustained.
Bitcoin's 50-day, 100-day and 200-day moving averages are also nearing bullish territory. CoinDesk said that is a sign the recent recovery remains structurally intact.
Ethereum developers are set to carry out the Glamsterdam upgrade on the Sepolia testnet this week. The test is part of preparations for a future mainnet rollout and will examine account abstraction features and data availability improvements.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.