News: The crypto market remains under severe pressure, with Bitcoin hitting a two-year low amid ongoing contagion fears stemming from the FTX collapse. The potential bankruptcy of Genesis Global Trading is a major concern, leading to a sharp decline in market capitalization. While some positive sentiment is emerging from traditional markets anticipating a Fed rate hike slowdown, this is largely overshadowed by the crypto-specific crises. Regulatory scrutiny is increasing, with senators questioning Fidelity's Bitcoin 401(k) offerings, and institutional players like Binance are cautious about further investments in distressed firms.

Market Probabilities: 
Bull 20% | Base 30% | Bear 50%

Recommendations: 
Short-term: SELL
Long-term: HOLD
{"sentiment": "bearish", "price_direction": "down", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.55, "key_reason": "The FTX bankruptcy is a catastrophic event for market confidence and liquidity. It will likely lead "}