News: The crypto market remains heavily influenced by the FTX contagion, with significant negative impacts seen across the board. The widening discount on Grayscale's Bitcoin Trust (GBTC) and Genesis Global Capital halting withdrawals highlight severe liquidity concerns and systemic risk. Major crypto-exposed equities like Coinbase are facing downgrades, and protocols like Metaplex on Solana are announcing layoffs. Regulatory actions, such as the Bahamas moving FTX's assets, add to the uncertainty. Despite these pressures, Bitcoin has shown some resilience, holding above $16,000, possibly on hopes of a Fed pivot, though the overall sentiment is overwhelmingly bearish in the short term.

Market Probabilities: 
Bull 15% | Base 35% | Bear 50%

Recommendations: 
Short-term: SELL
Long-term: HOLD
{"sentiment": "bearish", "price_direction": "down", "impact_strength": "high", "timeframe": "medium_term", "confidence": 0.575, "key_reason": "The record discount on GBTC highlights severe market stress and contagion fears stemming from FTX, s"}