Crypto Market Outlook: Key Events to Watch This Week

As April comes to a close, the market is bracing for a series of significant macroeconomic events. The interest rate policies 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 key US data releases, including first-quarter GDP and March PCE inflation, are scheduled, along with earnings reports from major companies such as Visa, Mastercard, Robinhood, and prominent 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 substantial momentum, but the likelihood of the Fed maintaining interest rates, coupled with persistent inflation, may lead to a hawkish tone and potentially cause bitcoin to retreat to the $72,000-$74,000 range in the short term. Levin also emphasized that the earnings reports of tech giants could significantly influence the market trajectory, while the outcome of the US-Iran talks may impact sentiment through oil and dollar fluctuations.