As April comes 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 be announced this week. Additionally, a range 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, which could either bolster or disrupt the current market sentiment. According to Markus Levin, co-founder of XYO, bitcoin is entering the week with substantial momentum, having surpassed the $78,000 mark.
However, Levin notes that the Fed's anticipated decision to maintain interest rates, coupled with persistent inflation, may reinforce a hawkish tone, potentially causing bitcoin to retreat to the $72,000-$74,000 range in the short term. Levin also emphasizes the importance of tech giants' earnings reports, as they can significantly influence equity markets, while developments in US-Iran talks may impact sentiment through oil and dollar movements.