Bitfire Group: Weak demand from US institutions may cause bitcoin to remain under short-term pressure and fluctuate.

Bitfire Group stated that the negative premium of Bitcoin on a certain exchange reflects weak buying interest from US institutions. The yield-bearing preferred stock STRC from Strategy once fell below $84, raising market concerns about its sale of Bitcoin. On the technical side, Bitcoin is operating below the 20-day and 50-day moving averages, the daily RSI is around 40, and the Bollinger Bands are trending downward. Bitfire Group believes that Bitcoin may oscillate below the resistance level and test buying support below in the short term. The key resistance levels are at $64,650, $66,900, and $69,800, while the main support level is at $63,500.