News: The crypto market is experiencing mixed signals today. On the long-term front, institutional interest is growing with Morgan Stanley developing Bitcoin swap products, while regulatory scrutiny remains high with the NY AG report highlighting exchange vulnerabilities. The SEC's ongoing review of the VanEck/SolidX ETF continues to be a key factor. Short-term, the market is reacting to a significant hack at Japan's Zaif exchange, leading to a $60 million loss and reinforcing security concerns. However, there's also a high-volume recovery in Bitcoin from recent lows, coupled with positive sentiment from figures like Novogratz predicting a market bottom. The discovery of a critical bug in Bitcoin's code, though quickly patched, adds a layer of technical risk.

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

Recommendations: 
Short-term: HOLD
Long-term: BUY
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