News: Bitcoin shows signs of a short-term recovery, with recent price gains and increased volume on regulated platforms like Bakkt. However, ongoing regulatory crackdowns in China are creating headwinds, potentially impacting liquidity. Institutional developments, such as German banks offering custody and Canadian Bitcoin fund IPOs, point to growing long-term adoption. Macro factors like the Fed's balance sheet expansion could also provide a bullish tailwind. Overall, the market exhibits mixed signals, with technical breakouts suggesting short-term optimism countered by regulatory concerns.

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

Recommendations: 
Short-term: BUY
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "low", "timeframe": "medium_term", "confidence": 0.575, "key_reason": "The introduction of cash-settled futures by a regulated entity like Bakkt is a key step towards broa"}