Upcoming Developments in Crypto: Interest Rates, Earnings, and More

As April comes to a close, the markets are bracing for a series of significant macro 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 set to be announced this week. Additionally, a slew of US data releases, including first-quarter GDP and March PCE inflation, are expected, along with earnings reports from prominent companies such as Visa, Mastercard, Robinhood, and major tech firms. These developments have the potential to either bolster or undermine the current market tone. According to Markus Levin, co-founder of XYO, bitcoin is entering the week with considerable momentum, but the persistence of inflation could lead to a hawkish tone from the Fed, potentially causing bitcoin to retreat to the $72,000-$74,000 range in the short term. Levin also emphasized the importance of tech giants' earnings reports, which could significantly influence the market trajectory, as well as the impact of US-Iran talks on oil and dollar movements.