News: Bitcoin experienced a notable price drop below $9,000, signaling potential for further downside in the short term. However, positive developments include record Bitcoin futures volume on the CBOE, indicating increased institutional interest, and optimistic long-term outlooks from industry leaders like Pantera Capital. Regulatory news remains mixed, with India and Iran imposing restrictions while Wyoming moves towards clearer blockchain legislation. The scarcity narrative around Bitcoin was reinforced with the mining of the 17 millionth coin.

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

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