News: Bitcoin is trading sideways around $17,000, showing a temporary stabilization amidst ongoing recession fears and concerns about interest rate hikes. The crypto market is closely watching regulatory developments, with SEC Chair Gary Gensler reiterating the need for compliance and a congressman calling for an investigation into the SEC's role in the FTX collapse. Positive news from Binance's proof-of-reserves audit offers some reassurance, while a lawsuit against Grayscale and continued macroeconomic headwinds present bearish pressures.

Market Probabilities: 
Bull 35% | Base 40% | Bear 25%

Recommendations: 
Short-term: HOLD
Long-term: BUY
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