News: The crypto market is experiencing significant downward pressure today, driven by the ongoing fallout from the FTX collapse. Major cryptocurrencies like Bitcoin and Ethereum are trading lower, with key industry players like Genesis facing bankruptcy risks, amplifying contagion fears and liquidity concerns. Institutional investors are heavily shorting crypto assets, reflecting deeply negative sentiment. Macroeconomic factors, including concerns over China's COVID situation, also contribute to a risk-off environment. Regulatory scrutiny is increasing, with calls for stricter oversight following the FTX implosion.

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 continued negative sentiment and contagion from the FTX collapse, coupled with the theft of fund"}