News: Bitcoin experienced a significant downturn, falling below $64,000 due to substantial outflows from spot Bitcoin ETFs, marking the fifth consecutive day of withdrawals. This has led to a bearish sentiment in the short term, with indicators showing extreme negative crowd sentiment, which could present a contrarian buying opportunity. Long-term, institutional adoption continues to be a strong bullish driver, with reports of major banks like Standard Chartered entering the crypto trading space and potential for further institutional inflows into ETFs. Macroeconomic factors, such as US election outcomes, also present potential long-term bullish catalysts.

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

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "high", "timeframe": "medium_term", "confidence": 0.5, "key_reason": "The potential entry of large institutional capital from sovereign wealth funds and pensions into Bit"}