As April draws 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 - will 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 have the potential to either bolster or undermine the current market tone.
According to Markus Levin, co-founder of XYO, bitcoin is entering the week with substantial momentum, but the prospect of persistent inflation and a hawkish 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, as they can significantly influence equity markets, and noted that developments in US-Iran talks will impact sentiment through oil and dollar movements.