Crypto Market Outlook: Key Events to Watch This Week

As April comes to a close, the market is bracing for a busy week of macroeconomic events. The monetary policy decisions of four major central banks - the Bank of Japan, US Federal Reserve, European Central Bank, and Bank of England - will be closely watched. Additionally, a slew 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 prominent tech firms. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with significant momentum around the $78,000 level. However, the Fed's expected decision to keep interest rates unchanged, combined with persistent inflation, may lead to a hawkish tone and potentially cause bitcoin to retreat to the $72,000-$74,000 range in the short term. Levin also noted that the earnings reports of tech giants could significantly influence the market trajectory, while developments in US-Iran talks may impact sentiment through oil and dollar movements.