News: Bitcoin experienced significant volatility today, dropping to a weekly low below $7,700 before a rapid rebound to over $8,150, showcasing resilience. However, altcoins suffered more pronounced losses, indicating a potential flight to BTC within the crypto market. Negative sentiment persists due to bearish commentary from Nobel laureate Paul Krugman and potential regulatory changes in South Korea regarding tax breaks for crypto exchanges. On the institutional front, news of Northern Trust engaging with crypto hedge funds offers a bullish long-term signal, while the potential for a Bitcoin ETF remains a key catalyst.

Market Probabilities: 
Bull 40% | Base 40% | Bear 20%

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