As April comes to a close, the market is poised for a series of significant macroeconomic 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 - are expected to influence market trends. Additionally, a range of key US data releases, including first-quarter GDP and March PCE inflation, will be closely watched, along with earnings reports from major companies such as Visa, Mastercard, Robinhood, and leading tech firms. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with substantial momentum around the $78,000 mark, but the persistent inflation could lead to a hawkish tone from the Fed, 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 reports, which could significantly impact the market trajectory, as well as the ongoing US-Iran talks, which may influence oil and dollar movements.