This week is packed with high-impact economic events across major economies, including inflation data from the UK and Canada, U.S. retail sales, Australia's employment report, and key interest rate decisions from Canada and the European Central Bank. These releases could drive significant market volatility, especially as global investors weigh the impact of trade tensions, policy shifts, and currency fluctuations.
In crypto markets, Bitcoin has staged a notable rebound, showing signs of renewed bullish momentum supported by technical indicators. Meanwhile, broader fundamentals—such as the weakening US dollar and rising concerns over economic stability—are fueling speculation that Bitcoin may increasingly serve as a digital safe haven in today's uncertain macro environment.
Overview
This week is packed with high-impact economic events across major economies, including inflation data from the UK and Canada, U.S. retail sales, Australia's employment report, and key interest rate decisions from Canada and the European Central Bank. These releases could drive significant market volatility, especially as global investors weigh the impact of trade tensions, policy shifts, and currency fluctuations.
In crypto markets, Bitcoin has staged a notable rebound, showing signs of renewed bullish momentum supported by technical indicators. Meanwhile, broader fundamentals—such as the weakening US dollar and rising concerns over economic stability—are fueling speculation that Bitcoin may increasingly serve as a digital safe haven in today's uncertain macro environment.
Key Economic Events
Tuesday 09:00 am (GMT+3) - UK: Claimant Count Change(GBP)
Tuesday 15:30 (GMT+3) - Canada: CPI m/m (CAD)
Wednesday 09:00 am (GMT+3) - UK: CPI y/y (GBP)
Wednesday 15:30 (GMT+3) - USA: Retail Sales m/m (USD)
Wednesday 16:45 (GMT+3) - Canada: Overnight Rate (CAD)
Thursday 04:30 am (GMT+3) - Australia: Employment Change (AUD)
Thursday 15:15 (GMT+3) - Europe: Main Refinancing Rate (EUR)
Thursday 15:30 (GMT+3) - USA: Unemployment Claims (USD)
Technical Analysis
Bitcoin has staged a strong recovery following its low of $74,377.98, rallying more than 15% from trough to peak—signaling a shift toward renewed bullish sentiment despite mixed macro signals.
Technically, BTCUSD has reclaimed levels above the 50-period Linear Weighted Moving Average (LWMA), although the shorter-term 20-period LWMA has yet to complete a bullish crossover.
Momentum indicators reinforce the upward bias: the Momentum Oscillator has crossed above the 100 threshold, and the Relative Strength Index (RSI) has climbed above the neutral 50 mark. A confirmed breakout above the $88,415.46 resistance level would solidify the bullish outlook and pave the way for further upside.
Potential Upside Targets
If buyers maintain control of the market, traders may shift their focus to the following four potential resistance levels:
88,415.46: The first level of resistance is determined at $88,415.46 which reflects the high point marked April 2.
93,200.20: The second resistance level is observed at $93,200.20, which aligns with the weekly resistance, R2, estimated using the standard Pivot Points methodology.
97,090.62: The third price objective is projected at $97,090.62, representing the 161.8% Fibonacci extension drawn from 88,415.46 to 74,377.98.
99,350.40: An additional price objective is projected at 99,350.40, representing the peak recorded on February 21.
Potential Downside Targets
If sellers take control of the market, traders may focus on the following four key support levels:
81,777.60: The initial support level is estimated at $81,777.60, representing the weekly Pivot Point, PP, estimated using the standard methodology.
74,377.98: The second support level is determined at $74,377.98, aligning with the trough marked April 7.
69,386.32: The third support level is established at $69,386.32, reflecting the 261.8% Fibonacci Extension drawn from the low point, $81,146.88, to the high point, $88,415.46.
66,332.06: An additional downside target is noted at $66,332.06, representing the weekly support, S3, which was calculated using the standard Pivot Points methodology.
Fundamentals
Amid escalating trade tensions and renewed pressure on financial markets, the US dollar has dropped to its lowest level in years, raising alarm over a deepening "crisis of confidence," according to analysts cited by Bloomberg. Some experts suggest the current environment may be more disruptive than the US abandonment of the gold standard in 1971. As traditional safe havens falter, bitcoin is increasingly being positioned as a digital alternative to gold—benefiting from the dollar's decline, expectations of looser monetary policy, and growing interest in reserve diversification.
Conclusion
With a packed economic calendar and growing macro uncertainty, markets are bracing for potential volatility across currencies, commodities, and crypto. Key data releases and central bank decisions will offer fresh clues on inflation, labor market trends, and monetary policy direction. Meanwhile, Bitcoin's technical rebound and emerging safe-haven narrative position it as a potential beneficiary of shifting investor sentiment. As the dollar weakens and global risk factors intensify, both traditional and digital assets are likely to remain in sharp focus throughout the week.