News: Bitcoin remains range-bound around $30.5K-$31K despite positive U.S. inflation data showing a 3.0% YoY CPI increase, which was better than expected. While the inflation news provided a brief lift, Bitcoin failed to sustain gains, indicating underlying selling pressure or a lack of strong conviction. The U.S. government's movement of $300M in Silk Road-linked Bitcoin also introduced potential short-term sell pressure. Meanwhile, institutional interest continues with Coinbase being named a "surveillance partner" for potential spot Bitcoin ETFs, boosting its stock and signaling positive sentiment for regulated crypto products. The narrowing discount on GBTC further supports this optimistic outlook for ETF approvals.

Market Probabilities: 
Bull 45% | Base 40% | Bear 15%

Recommendations: 
Short-term: HOLD
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.525, "key_reason": "The application by a major asset manager like Fidelity for a spot Bitcoin ETF is a significant devel"}