News: The crypto market is experiencing extreme volatility driven by the FTX crisis, with Binance backing out of its acquisition deal. This has led to significant price drops across the board, impacting crypto-related equities. However, a surprisingly positive US CPI report showing cooling inflation has sparked a strong rally in traditional markets, including stocks and bonds, and provided a much-needed boost to Bitcoin, which saw a ~10% surge. Despite this short-term relief, the FTX contagion fears and ongoing liquidity concerns continue to cast a shadow over the crypto space.

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

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "high", "timeframe": "medium_term", "confidence": 0.5, "key_reason": "The collapse of the Binance-FTX deal and ongoing concerns about FTX's liquidity created significant "}