Crypto Market Outlook: Key Events to Watch This Week

As April comes to a close, the markets are bracing for a busy week ahead, with several key macro 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 this week. Additionally, a slew of important US data releases, including first-quarter GDP and March PCE inflation, are scheduled, along with earnings reports from major companies like Visa, Mastercard, Robinhood, and several 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, Levin notes that the Federal Reserve's decision to keep interest rates unchanged, combined with persistent inflation, could lead to a hawkish tone and potentially cause bitcoin to retreat to the $72,000-$74,000 range in the short term. Levin also emphasizes that the earnings reports from tech giants will be crucial in determining the market's trajectory, given their substantial influence on equity markets. Furthermore, the ongoing US-Iran talks are likely to impact market sentiment through fluctuations in oil and dollar movements.