As April comes to a close, the markets are poised for a series of significant macroeconomic events. The monetary policy decisions of four major central banks - the Bank of Japan, the US Federal Reserve, the European Central Bank, and the Bank of England - are expected to be major catalysts. Furthermore, a slew of US economic data, including first-quarter GDP and March PCE inflation, will be released, alongside earnings reports from key players such as Visa, Mastercard, Robinhood, and major tech companies, which could either bolster or undermine the current market sentiment. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with substantial momentum around the $78,000 mark, but the prospect of persistent inflation and a potential hawkish tone from the Fed could lead to a short-term pullback to the $72,000-$74,000 range.
Levin also emphasized the significance of tech giants' earnings as a potential indicator of the market's trajectory, given their considerable influence on equity markets, while developments in US-Iran talks could impact sentiment through oil and dollar movements.