[Analysis: Weak Demand from U.S. Institutions, Bitcoin May Continue to Face Short-Term Pressure and Volatility] BlockBeats reported on June 28 that Bitfire Group stated in its latest market commentary that the negative premium of Bitcoin on Coinbase continues to widen, reflecting weak institutional buying in the U.S. Meanwhile, Strategy's income-focused preferred stock STRC briefly fell below $84. Although there is no immediate risk of liquidation, market concerns about whether it "needs to sell Bitcoin" continue to weigh on sentiment. Bitfire Group pointed out that, from a technical perspective, Bitcoin remains below the 20-day and 50-day moving averages, with short-term moving averages in a bearish alignment. The daily RSI is around 40, indicating weakness but not yet entering the oversold zone. The Bollinger Bands are overall sloping downward, with the middle band forming strong resistance. Bitfire Group believes that in the absence of sustained bullish momentum and with bears still in control, Bitcoin may continue to oscillate below resistance levels in the short term and further test genuine buying demand at lower levels. Key resistance levels are at $64,650, $66,900, and $69,800, while major support is at $63,500. [Original Link]