As April draws to a close, the markets are 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 dominate the headlines. Additionally, a slew of key US data releases, including first-quarter GDP and March PCE inflation, will be closely watched, along with the earnings reports of major companies such as Visa, Mastercard, Robinhood, and several prominent tech firms.
According to Markus Levin, co-founder of XYO, bitcoin is entering the week with substantial momentum at the $78,000 level, but the prospect of 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 in shaping the market trajectory, as well as the impact of US-Iran talks on oil and dollar movements.