News: The crypto market remains under pressure, with continued declines in Bitcoin and Ether, reflecting broader risk-off sentiment. Negative news from the FTX fallout, including guilty pleas from former executives and the SEC classifying FTT as a security, is weighing heavily on sentiment. Regulatory concerns are also surfacing globally, with the RBI governor warning about crypto risks. However, some positive developments include ongoing Bitcoin protocol development and the potential for institutional adoption through brands engaging with Web3. The correlation between Bitcoin and the S&P 500 suggests that traditional market movements will continue to influence crypto prices.

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

Recommendations: 
Short-term: HOLD
Long-term: HOLD
{"sentiment": "neutral", "price_direction": "sideways", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.5, "key_reason": "The guilty pleas and cooperation of key FTX figures will likely lead to more negative headlines and "}