News: Bitcoin is trading below $26,000, with key support levels being tested, suggesting potential for further downside towards $20,000 if breached. Macroeconomic concerns, including the evaporation of dovish pivots and the impact of potential rate hikes, are weighing on risk assets like Bitcoin and gold. The decline in DeFi TVL also points to reduced liquidity and confidence in the crypto market. However, positive long-term signals from institutional interest, such as BlackRock's ETF application and Coinbase's futures approval, remain in play, offering a counter-narrative for future growth.

Market Probabilities: 
Bull 35% | Base 40% | Bear 25%

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "neutral", "price_direction": "up", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.5, "key_reason": "The application from a major asset manager like BlackRock is a strong signal of institutional adopti"}