News: Markets are experiencing significant risk aversion today, with major stock indices falling sharply due to recession fears and anticipation of Fed Chair Powell's speech at Jackson Hole. Bitcoin has followed suit, showing bearish momentum after a significant weekly drop and breaking technical support levels. While the Ethereum Merge continues to be a long-term bullish factor, short-term sentiment is dominated by macro concerns and potential Fed tightening, leading to a cautious outlook. Developments in stablecoin activity and community support for legal battles add minor noise to the predominantly bearish macro picture.

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": 0.6, "key_reason": "The implementation of comprehensive regulations like MiCA by a major economic bloc like the EU is a "}