News: Bitcoin's implied volatility is rising ahead of the US election, signaling potential short-term price swings. Markets are reacting positively to early election results suggesting a potential Biden win, which could reduce political uncertainty and foster a risk-on sentiment. Meanwhile, the DeFi sector is experiencing a sell-off, indicating a cooling of speculative interest. PayPal's CEO expressed optimism about crypto expansion, reinforcing the trend of mainstream adoption.

Market Probabilities: 
Bull 50% | Base 30% | Bear 20%

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.55, "key_reason": "Square's significant investment in Bitcoin, following MicroStrategy, signals a growing acceptance of"}