News: Bitcoin experienced a notable pullback, with its market dominance falling below 50% for the first time since 2018, while Ethereum reached new all-time highs. This suggests a short-term rotation from Bitcoin to altcoins, particularly Ethereum. Institutional interest remains strong, evidenced by significant inflows into Morgan Stanley's Bitcoin fund and the upcoming Dubai listing of a Bitcoin ETF. However, potential capital gains tax hikes and regulatory actions in countries like Turkey introduce bearish macro and regulatory risks. The reset of derivative funding rates offers a potential short-term bullish signal for Bitcoin.

Market Probabilities: 
Bull 45% | Base 35% | Bear 20%

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.525, "key_reason": "Coinbase's long-standing practice of holding crypto on its balance sheet, coupled with its stated in"}