Bitcoin Rebound Faces Key Test as Ethereum Set for 'Glamsterdam' Upgrade

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.