News: The crypto market is experiencing a bearish sentiment today, with Bitcoin and Ether breaking key support levels amid fears of FTX asset liquidations and anticipation of the August inflation report. Traditional markets are also showing weakness, particularly in the tech sector, which could further dampen crypto's short-term outlook. However, the ongoing race for spot Bitcoin ETFs, with Franklin Templeton joining the fray, provides a long-term bullish narrative. Regulatory pressures from the SEC under Gary Gensler remain a significant bearish overhang for the industry.

Market Probabilities: 
Bull 30% | Base 40% | Bear 30%

Recommendations: 
Short-term: SELL
Long-term: BUY
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