As April comes to a close, the market is bracing for a series of significant macroeconomic events. The monetary policy decisions of four major central banks - the Bank of Japan, US Federal Reserve, European Central Bank, and Bank of England - are expected to influence market trends. Additionally, a range of US data releases, including first-quarter GDP and March PCE inflation, will be closely watched, along with earnings reports from major companies such as Visa, Mastercard, Robinhood, and key tech players.
According to Markus Levin, Co-founder of XYO, bitcoin is poised to start the week with strong momentum around the $78,000 mark. However, the Fed's decision to maintain interest rates, combined with persistent inflation, may lead to a pullback in bitcoin's price to the $72,000-$74,000 range in the short term. Levin also emphasizes the importance of tech giants' earnings reports, which could significantly impact the market trajectory, as well as developments in US-Iran talks, which may influence oil and dollar movements.