News: Bitcoin is experiencing a significant downturn, with prices falling below key support levels like $8,000 and the 200-day moving average, confirming bearish technical signals. This is exacerbated by a broad market sell-off across most cryptocurrencies. Negative regulatory news from China, including account suspensions on Weibo for major exchanges, adds to the bearish sentiment. However, there's a glimmer of hope with the SEC reportedly reconsidering the Bitwise Bitcoin ETF proposal, which could be a long-term bullish catalyst if approved. Fidelity's acquisition of a New York trust charter for institutional custody also strengthens the underlying infrastructure.

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

Recommendations: 
Short-term: SELL
Long-term: HOLD
{"sentiment": "neutral", "price_direction": "down", "impact_strength": "high", "timeframe": "medium_term", "confidence": 0.55, "key_reason": "A widespread market crash affecting most cryptocurrencies signals strong bearish sentiment and immed"}