News: The crypto market is experiencing a significant downturn, with Bitcoin down nearly 50% from its April high and trading below $33,000. This sell-off is attributed to a combination of factors including regulatory concerns from China, statements from Elon Musk, and general market volatility. Major altcoins like Ethereum have also seen substantial drops. While some altcoins like Dogecoin show relative resilience, the overall sentiment is strongly bearish in the short term. Long-term, institutional adoption and infrastructure developments like the Lightning Network continue to be positive signals.

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

Recommendations: 
Short-term: SELL
Long-term: BUY
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