As April comes to a close, the market is poised for a significant week, with multiple macroeconomic events on the horizon. 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 expected to be announced, potentially influencing interest rates. Additionally, a range of US data releases, including first-quarter GDP and March PCE inflation, will be closely watched, alongside earnings reports from key companies such as Visa, Mastercard, Robinhood, and major tech firms.
According to Markus Levin, co-founder of XYO, bitcoin is entering the week with substantial momentum, but the persistent inflation and the Fed's expected decision to maintain interest rates could lead to a short-term pullback to the $72,000-$74,000 range. Levin also emphasized the significance of tech giants' earnings and the US-Iran talks in shaping market sentiment, particularly through their impact on oil and dollar movements.