News: Bitcoin experienced a strong bullish surge, breaking past $8,750 to a 12-month high, driven by significant buying pressure and positive momentum. This rally occurred despite recent volatility, such as the flash crash on May 17th, which raises concerns for potential ETF approvals. Institutional interest remains a key driver, with news of Bank Frick launching a crypto tracker and NYSE Arca filing for a Bitcoin trust. However, a reported double spend incident in Bitcoin Cash (BCH) introduces a bearish element for that specific altcoin. Overall sentiment is cautiously optimistic, with strong short-term price action but lingering regulatory uncertainties.

Market Probabilities: 
Bull 60% | Base 30% | Bear 10%

Recommendations: 
Short-term: BUY
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "high", "timeframe": "medium_term", "confidence": 0.675, "key_reason": "The parabolic surge to a 12-month high signifies strong bullish momentum and potential for further u"}