As April comes to a close, the market is poised for a series of significant macro 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 range of US data releases, including first-quarter GDP and March PCE inflation, will be scrutinized, alongside earnings reports from major companies such as Visa, Mastercard, Robinhood, and key tech players. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with substantial momentum around the $78,000 mark. However, with the Fed expected to maintain current 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 emphasized the importance of tech giants' earnings in determining the market's trajectory, given their significant influence on equity markets. Furthermore, developments in US-Iran talks are likely to impact sentiment through fluctuations in oil and dollar movements.