News: The cryptocurrency market is experiencing a significant downturn, with Bitcoin breaking below the $9,000 level and major altcoins like Bitcoin Cash, Litecoin, and Ripple also seeing substantial losses. This sell-off appears to be driven by negative sentiment stemming from regulatory actions, specifically the raid on South Korea's UPbit exchange, which has triggered panic selling. Despite some bullish commentary from figures like Mike Novogratz, the immediate outlook remains bearish, with technical indicators pointing to further downside potential.

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

Recommendations: 
Short-term: SELL
Long-term: HOLD
{"sentiment": "bearish", "price_direction": "down", "impact_strength": "high", "timeframe": "medium_term", "confidence": 0.6, "key_reason": "The raid on a major South Korean exchange is a significant negative catalyst, causing panic selling "}