News: Bitcoin experienced a bearish pullback on October 17th, breaking key support levels and ending the day at $11,325.0. This price action suggests short-term downward pressure. However, institutional sentiment remains strong, with record bullish bets in CME Bitcoin futures, indicating underlying conviction. The increasing dominance of Tether as a trading pair highlights its role in market liquidity, while discussions about Bitcoin's potential as a global reserve currency continue to shape macro narratives.

Market Probabilities: 
Bull 40% | Base 40% | Bear 20%

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "neutral", "price_direction": "up", "impact_strength": "high", "timeframe": "medium_term", "confidence": 0.5, "key_reason": "Record institutional inflows into Grayscale products demonstrate strong and growing demand from trad"}