As April comes to a close, the markets are bracing for a series of significant macroeconomic 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 - will be closely watched.
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 several big tech firms, which could either bolster or disrupt the current market sentiment. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with substantial momentum around the $78,000 mark, but the prospect of sustained 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 that the earnings reports from tech giants will be a crucial indicator of the market's trajectory, given their significant influence on equity markets, while the developments in the US-Iran talks will impact sentiment through fluctuations in oil prices and dollar movements.