As April comes to a close, the markets are bracing for a busy week with multiple macroeconomic 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, potentially influencing interest rates. 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 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, the prospect of persistent inflation and a potential hawkish tone from the Fed could lead to a short-term pullback to the $72,000-$74,000 range. Levin also emphasized the importance of tech giants' earnings reports, as they can significantly impact equity markets, while developments in US-Iran talks may influence market sentiment through oil and dollar movements.