As April comes to a close, the markets are bracing for a multitude of significant macroeconomic events. The monetary policy decisions of four prominent central banks - the Bank of Japan, the US Federal Reserve, the European Central Bank, and the Bank of England - are expected to be announced this week. Additionally, a slew of key US data releases, including first-quarter GDP and March PCE inflation figures, are scheduled, alongside earnings reports from major companies such as Visa, Mastercard, and Robinhood. The results of these tech giants 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. However, the persistent inflation and the anticipated hawkish tone from the Fed could lead to a short-term pullback to the $72,000-$74,000 range. Levin also emphasized the importance of tech giants' earnings and the US-Iran talks in influencing market trajectory and sentiment.