Bitcoin traded in a narrow range between $94,000 and $95,000 over the weekend but saw a notable decline early on April 28, briefly dipping below $93,000. As of this writing, it has slightly recovered to $93,729.

This week, investors face a series of critical events and data that could drive significant market volatility. Key areas of focus include Wall Street’s highly anticipated tech earnings season, U.S. employment reports, and the subtly shifting U.S.-China trade dynamics.

Tech Giants’ Earnings Season: Leading or Dragging the Market?

This week marks a pivotal period in the U.S. earnings season, with several influential tech giants set to release their latest quarterly results. The performance of the “Magnificent Seven” leaders—Apple, Microsoft, Amazon, and Meta—will be the focal point for global investors.

Market analysis suggests that the seven giants’ stock performance in 2025 has been noticeably weaker than the previous year, partly due to overstretched prior gains and diverging views on future growth. This week’s earnings reports will be crucial in determining the short- and medium-term direction of the tech sector and the broader U.S. stock market.

Key Economic Data: Jobs, Inflation, and Fed Policy Uncertainty

Beyond corporate earnings, a slew of key macroeconomic data will also shape market sentiment and trends. The U.S. will release several labor market indicators, including the April unemployment rate, ADP employment report, and weekly initial jobless claims.

If the upcoming jobs data signals a tight labor market (e.g., lower unemployment or sustained wage growth), it could indicate persistent inflationary pressures. This might reinforce the Federal Reserve’s commitment to maintaining higher interest rates for longer or delay market expectations for rate cuts. Conversely, weaker-than-expected jobs data, suggesting a cooling labor market, could give the Fed more room to consider rate reductions.

While U.S.-China trade frictions persist, there were signs of easing tensions last week. Reports suggest China is considering exempting certain U.S. pharmaceutical products from the 125% retaliatory tariffs previously imposed in response to U.S. tariffs and may suspend tariffs on at least eight U.S. semiconductor products.

On the U.S. side, Treasury Secretary Bessent recently made relatively conciliatory remarks, which could help ease global supply chain tensions and positively influence market risk sentiment. Nonetheless, the unpredictable nature of trade policy continues to warrant investor caution.

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.