News: Bitcoin closed July with its highest monthly price since 2017, gaining 24% for the month and breaking key resistance levels on August 1st. This strong performance, coupled with positive regulatory news regarding banks holding crypto wallets, fuels significant short-term bullish sentiment. Increased miner revenue and the growing integration of Bitcoin into Ethereum's DeFi ecosystem also point to underlying network strength and utility. However, ongoing legal proceedings related to the Twitter hack introduce minor uncertainty, and broader macroeconomic factors remain a watch item.

Market Probabilities: 
Bull 70% | Base 20% | Bear 10%

Recommendations: 
Short-term: BUY
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.75, "key_reason": "A strong monthly close above a significant historical resistance level provides immediate bullish mo"}