News: The market is reacting to expectations of aggressive Federal Reserve rate hikes, creating a bearish sentiment for risk assets like Bitcoin, which is struggling to break out. Simultaneously, institutional adoption continues with large Bitcoin outflows from Coinbase, suggesting a long-term holding trend. Regulatory developments are mixed, with the EU not banning PoW mining but continuing to focus on carbon footprints, while the US President's executive order on crypto introduces uncertainty. Positive news includes Yuga Labs' acquisition of CryptoPunks boosting NFTs and exchanges like FTX and Coinbetter securing regulatory licenses in Dubai and North America respectively.

Market Probabilities: 
Bull 40% | Base 40% | Bear 20%

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