News: Bitcoin experienced extreme volatility on August 2nd, with a significant flash crash wiping out over $1.4 billion in leveraged positions. Despite a sharp drop from over $11,900 to $10,500, Bitcoin showed some recovery, ending the day around $11,800. This suggests a highly sensitive market prone to rapid liquidations. Long-term, the narrative of Bitcoin as a digital gold and inflation hedge remains strong, supported by institutional interest and increasing adoption in sectors like travel. However, regulatory concerns, highlighted by the Twitter hack and potential government actions, pose ongoing risks.

Market Probabilities: 
Bull 40% | Base 30% | Bear 30%

Recommendations: 
Short-term: HOLD
Long-term: BUY
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