News: Bitcoin experienced significant volatility on January 4th, 2021, dropping sharply by over 10-17% from its recent all-time highs above $34,000. This correction followed a strong weekend rally and is attributed to profit-taking and potential deleveraging in derivatives markets. Meanwhile, institutional interest remains high with SkyBridge Capital launching a new Bitcoin fund, and mining companies like HIVE and Marathon expanding capacity, signaling underlying bullish long-term sentiment. However, the immediate price action suggests a short-term bearish correction is underway.

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

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.5, "key_reason": "The significant increase in assets managed by Grayscale signals strong institutional interest and ca"}