As April comes to a close, the market is bracing for a multitude of significant macroeconomic events. The interest-rate policies of four major central banks - the Bank of Japan, the US Federal Reserve, the European Central Bank, and the Bank of England - are set to be announced this week. Additionally, a slew of key US data releases, including first-quarter GDP and March PCE inflation, are expected, alongside earnings reports from major companies such as Visa, Mastercard, Robinhood, and prominent tech firms.
These developments could either bolster or disrupt the current market tone. According to Markus Levin, Co-founder of XYO, bitcoin is entering the week with substantial momentum, but the persistent inflation and potential hawkish tone from the Fed could lead to a short-term pullback to the $72,000-$74,000 range. Levin also emphasized the significance of tech giants' earnings and the US-Iran talks in shaping market sentiment, particularly through oil and dollar movements.