News: Bitcoin is showing signs of a strong short-term recovery, with prices surging and approaching key resistance levels, driven by positive sentiment in traditional markets anticipating government stimulus. However, a significant drop in BitMEX open interest suggests reduced speculative leverage, which could temper upward momentum. Meanwhile, gold's record rally due to unlimited quantitative easing indicates a flight to safety, potentially drawing capital away from riskier assets like Bitcoin. Institutional adoption signals, such as a major Italian bank trading Bitcoin and a new hedging program, provide a bullish long-term outlook, while regulatory developments like the removal of 'digital dollar' from the US relief bill have a muted short-term impact.

Market Probabilities: 
Bull 55% | Base 30% | Bear 15%

Recommendations: 
Short-term: BUY
Long-term: BUY
{"sentiment": "bullish", "price_direction": "up", "impact_strength": "medium", "timeframe": "medium_term", "confidence": 0.625, "key_reason": "The lifting of the crypto trading ban in India is a major regulatory win, opening up a large market."}