The cryptocurrency market experienced its second consecutive day of decline on Tuesday, with bitcoin and ether each losing approximately 0.75% since midnight UTC. This downturn follows two failed attempts by bitcoin to surpass the $80,000 resistance level over the past week, with the most recent attempt occurring during Monday's Asian trading hours.
The enthusiasm from last week's price surge from $70,000 to $79,500 is dissipating as several key indicators turn bearish, including the Coinbase Premium index, which has flipped negative, signaling decreased demand from U.S. investors.
U.S. equities are poised to open lower on Tuesday, with Nasdaq 100 futures down 0.5% since midnight UTC, while the U.S.
dollar index has risen 0.25%. The stalled peace negotiations between Iran and the U.S.
continue to influence traditional markets, with Brent crude oil now firmly above $105 per barrel. The derivatives market is also reflecting a cautious stance.