News: Bitcoin experienced a volatile day, trading around $37,000-$38,000, influenced by mixed regulatory news. Positive developments include the Basel Committee's proposal allowing banks to hold digital assets, boosting institutional sentiment. However, JPMorgan noted weak institutional demand via futures backwardation, and proposed stringent capital rules for Bitcoin by regulators could temper enthusiasm. El Salvador's adoption of Bitcoin as legal tender continues to provide a fundamental boost, while the potential inclusion of crypto in 401(k) plans signals growing mainstream adoption.

Market Probabilities: 
Bull 45% | Base 35% | Bear 20%

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "low", "timeframe": "medium_term", "confidence": 0.525, "key_reason": "China's aggressive crackdown on Bitcoin mining has a substantial impact on global hashrate distribut"}