As April comes to a close, the markets are 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 range 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 prominent tech firms.
These developments could either bolster or undermine 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, the potential for persistent inflation and a consequent hawkish tone from the Fed could lead to a short-term pullback to the $72,000-$74,000 range. Levin also emphasized the importance of tech giants' earnings reports, which could significantly influence the market trajectory, as well as the impact of US-Iran talks on oil and dollar movements.