Bitfire Group: Weak institutional demand in the United States, Bitcoin may continue to be under pressure and fluctuate in the short term

Bitfire Group stated that the negative premium of Bitcoin on Coinbase reflects weak institutional buying in the United States. Strategy's yield oriented preferred stock STRC fell below $84 at one point, and the market is concerned about its sale of Bitcoin. Technically speaking, Bitcoin runs below its 20 day and 50 day moving averages, with a daily RSI of around 40 and a downward sloping Bollinger Bands. Bitfire Group believes that Bitcoin may fluctuate below resistance levels in the short term and test buying below, with key resistance levels at $64650, $66900, and $69800, and the main support level at $63500.