News: The cryptocurrency market is experiencing a significant downturn, with Bitcoin hitting new yearly lows below $3,400. This decline is exacerbated by the SEC's delay in deciding on the VanEck-SolidX Bitcoin ETF, a key catalyst for potential institutional inflow. Broader market sentiment remains overwhelmingly bearish, with most altcoins following Bitcoin's downward trajectory. Traditional markets are also showing weakness, contributing to a general risk-off environment.

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

Recommendations: 
Short-term: SELL
Long-term: HOLD
{"sentiment": "bearish", "price_direction": "down", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.6499999999999999, "key_reason": "The repeated sharp declines and the mirroring behavior of altcoins confirm a strong bearish trend. T"}