As April draws to a close, the markets are bracing 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 be announced this week. 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, and Robinhood. According to Markus Levin, co-founder of XYO, bitcoin is entering the week with considerable momentum, having surpassed the $78,000 mark.
However, Levin cautioned that the Fed's decision to maintain interest rates, coupled with persistent inflation, could lead to a short-term pullback in bitcoin's price to the $72,000-$74,000 range. The earnings reports of tech giants are also expected to be a crucial factor in determining the market's trajectory, given their significant influence on equity markets. Furthermore, developments in the US-Iran talks are likely to impact market sentiment through fluctuations in oil prices and dollar movements.