Crypto Market Outlook: Key Events to Watch This Week

As April comes to a close, the market is bracing for a series 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 slew of US data releases, including first-quarter GDP and March PCE inflation, are expected, along with earnings reports from major companies such as Visa, Mastercard, Robinhood, and key tech players. The results of these reports may either bolster or undermine the current market tone. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with considerable momentum around the $78,000 mark. However, with the Fed expected to maintain 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. Levin also noted that the earnings of tech giants could significantly influence the market, given their substantial impact on equity markets. Furthermore, developments in the US-Iran talks are likely to shape market sentiment through fluctuations in oil and dollar movements.