Crypto Market Outlook: Key Events to Watch This Week

As April comes to a close, the markets are bracing for a multitude of significant macro 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 range of key US data releases are scheduled, including first-quarter GDP and March PCE inflation figures, as well as earnings reports from major companies such as Visa, Mastercard, Robinhood, and several prominent tech firms. These results have the potential to either reinforce or alter the current market tone. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with substantial momentum around the $78,000 level. However, Levin notes that while the Fed is expected to maintain unchanged interest rates, persistent inflation could lead to a hawkish tone, potentially causing bitcoin to retreat to the $72,000-$74,000 range in the short term. The earnings reports from tech giants, Levin adds, will be crucial in determining the market's trajectory, given their significant influence on equity markets. Furthermore, developments in the US-Iran talks are likely to impact sentiment, driven by movements in oil and dollar markets.