The cryptocurrency space is gearing up for an eventful week as market participants await several influential developments. Bitcoin (BTC) currently trades around $115,820, while Ethereum (ETH) holds steady near $4,217 amid a largely rangebound market. Traders and investors are closely watching to see if either asset can break through critical support or resistance levels.
A significant event looming on the calendar is the Federal Reserve’s interest rate decision scheduled for October 29. The Fed is widely expected to set the federal funds rate target range between 3.75% and 4%, a move that could have considerable ripple effects across crypto and traditional markets alike. The announcement will be followed by a press conference, providing further guidance on monetary policy which could influence market sentiment.
Another key highlight includes a virtual meeting hosted by Core Scientific (CORZ) on October 30, during which shareholders will vote on a proposed merger with CoreWeave (CRWV). The outcome of this vote could impact the companies’ trajectories as well as investor confidence. On the same day, Core Scientific will also address related executive compensation matters.
Among blockchain protocol updates, Ethereum’s Fusaka hard fork upgrade is set to roll out on the Hoodi testnet on October 28, marking a step forward in Ethereum’s ongoing network enhancements. Cronos (CRO) is also implementing the “Smarturn” mainnet upgrade on October 30, aiming to improve platform functionalities for its users.
Additionally, HashKey Chain (HSK) has announced a pause on new staking orders starting October 30 to facilitate an update to its staking contract. The upgrade promises enhanced yields and a more sustainable annual percentage yield (APY) for stakers.
The week will also mark the closure of Paxful, a peer-to-peer cryptocurrency marketplace, which is ceasing operations by November 1. The shutdown ends a notable chapter in the decentralized crypto trading space.
Crypto communities will gather on November 2 in Chiba, Japan, for the Dogeday 2025 event at Sakura Hometown Square, celebrating the memecoin and its supporters.
Macro-economic data points from global markets further add context to the financial environment influencing crypto. Among these are the Dallas Fed Manufacturing Index release on October 27 and Mexico’s Q3 GDP growth figures on October 30. Central banks beyond the Fed, including the Bank of Canada, will announce their interest rate decisions on October 29, providing additional insight into global fiscal policy trends.
In the realm of decentralized governance, numerous DAO proposals are underway. Decentraland DAO is voting on launching a Land Access Program to enable creators to utilize unused DAO land temporarily. GnosisDAO seeks to enhance voting accuracy by transitioning to on-chain and beacon chain data. Meanwhile, Lisk DAO and ZKsync DAO are also conducting important votes related to fund allocations and governance enhancements, with results expected in the coming days.
Lastly, token unlock events are scheduled that could influence market supply dynamics. Notably, a large unlock of 72.4% of GRASS tokens’ circulating supply, valued at approximately $77.4 million, is set for October 28, alongside significant unlocks for SIGN and other tokens looming this week.
As this busy week unfolds, market watchers will be balancing the impact of macroeconomic developments, corporate decisions, major network upgrades, and governance votes to gauge the next potential direction for the cryptocurrency sector.
