News: The crypto market remains under significant pressure, with Bitcoin experiencing a sharp decline, losing over 50% of its value from its November peak and falling back to July 2021 levels. This downturn is primarily driven by macroeconomic factors, including persistent inflation fears and the anticipation of aggressive interest rate hikes by the Federal Reserve, which are also impacting traditional tech stocks. Despite the bearish sentiment, some positive developments are occurring, such as El Salvador's continued Bitcoin accumulation and BlackRock's new blockchain-focused ETF, indicating underlying institutional and sovereign interest. On-chain data suggests short-term holders are heavily in loss, which could signal a potential market bottom.

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

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "neutral", "price_direction": "up", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.5, "key_reason": "The continued sharp decline in Bitcoin price, driven by macro concerns like inflation and Fed rate h"}