According to The Kobeissi Letter, this week features six key events likely to impact crypto trading: the market reaction to Moody’s downgrade on Monday, US crude oil inventory data release on Wednesday, S&P Global Manufacturing PMI and April existing home sales data on Thursday, April new home sales data on Friday, and comments from a total of 14 Federal Reserve speakers throughout the week (source: The Kobeissi Letter). These events are anticipated to increase volatility in both traditional and crypto markets, as shifts in risk sentiment and macroeconomic indicators can directly influence Bitcoin, Ethereum, and altcoin prices.

According to Michaël van de Poppe, gold has exhibited significant volatility, initially declining but rallying due to a large miss on PMI data. This rally suggests that if gold's trend reverses downwards, it could trigger a positive performance in altcoins. The current conditions of a declining dollar and yields are seen as favorable for this scenario.

According to CryptoMichNL, the recent dip in Bitcoin has occurred, and the correction phase might be over. With the macroeconomic season starting, highlighted by PMI data, there is an expectation that Bitcoin will test its all-time high (ATH) in the next 2-4 weeks.