Crypto Market Outlook: Key Events to Watch This Week

As April comes to a close, the markets are bracing for a significant number of 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 - are scheduled for this week. Additionally, a range of US data is set to be released, including first-quarter GDP and March PCE inflation figures, along with earnings reports from prominent companies such as Visa, Mastercard, Robinhood, and several major tech firms. These reports have the potential to either solidify or disrupt 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 anticipated 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 emphasizes that the earnings reports of tech giants will be crucial in determining the market's trajectory, given their significant influence on equity markets. Furthermore, developments in the US-Iran talks are expected to impact sentiment through fluctuations in oil and dollar movements.