Key points

• Bitcoin traded near $82,742, down roughly 1% since Friday and more than 2% in 24 hours, pulling back from $84,000
• The Fed raised its benchmark target rate to 4% last week, a hawkish move markets are still digesting
• US nonfarm payrolls for September are expected at 84,000 on Oct. 2, down from 162,000 previously
• Solana opened the activation window for Alpenglow on Sept. 28, replacing TowerBFT with the Votor protocol
• Decentraland is voting on a security response after over 1,000 Decentraland Names were stolen from user accounts

Bitcoin's rally took a breather as the largest cryptocurrency pulled back from the $84,000 threshold, according to CoinDesk. The coin was down roughly 1% since Friday and more than 2% over the previous 24 hours, trading near $82,742. Investors are digesting the recent price surge while turning to a packed macroeconomic calendar.

The pullback follows last week's hawkish Federal Reserve rate hike, which lifted the benchmark target rate to 4%. Cross-asset markets are still weighing the broader policy path after recent rate decisions from the Bank of Japan and Bank of England. That backdrop has left crypto bulls waiting for fresh signals from US data.

The macro week centres on midweek US jobless claims, alongside updates on housing and durable goods. The S&P/Case-Shiller home price index for July is due Sept. 29 with a 2.2% year-on-year estimate, while final second-quarter GDP growth is expected at 1.5%. August core PCE is forecast at 0.3% month on month.

Bitcoin slips from highs

The week's main event is September nonfarm payrolls on Oct. 2, estimated at 84,000 after 162,000 previously, with average hourly earnings seen up 0.3%. Initial jobless claims for the period ending Sept. 26 are expected at 199,000, and the ISM manufacturing PMI for September is estimated at 54.8.

On the crypto side, Solana opened the activation window for its Alpenglow consensus upgrade on Sept. 28. The change replaces TowerBFT with the new Votor protocol, aiming to cut voting transaction overhead across the network. No major token launches were confirmed for the week.

Governance votes are also in focus. World Liberty Financial is holding a preliminary vote on a Governance Engagement Incentive Program, with a proposed launch date of Oct. 1 and voting closing Sept. 28. Balancer, which faces a potential shutdown, is voting until Sept. 29 on a proposal to fork its core architecture.

Macro data in focus

Decentraland is voting until Oct. 1 on a security response after more than 1,000 Decentraland Names were stolen from user accounts. The proposal seeks an immediate investigation and a temporary freeze on smart-contract activity, affected accounts and secondary transfers. Two token unlocks are scheduled: Canton on Sept. 28 and Falcon Finance on Sept. 29. Korea Blockchain Week runs Sept. 29 to Oct. 1 in Seoul.

Read the full article on CoinDesk →