The cryptocurrency market experienced its second consecutive daily decline on Tuesday, with both bitcoin and ether losing approximately 0.75% since midnight UTC, at $76,310.64 for bitcoin. This downturn follows two unsuccessful attempts by bitcoin to break through the $80,000 resistance level over the past week, the most recent of which occurred during Monday's Asian trading hours.
The enthusiasm sparked by last week's price surge from $70,000 to $79,500 is dissipating as key price indicators turn bearish, including the negative flip of the Coinbase Premium index, signaling decreased demand from U.S. investors. U.S.
stock markets are also expected to open lower on Tuesday, with Nasdaq 100 futures down 0.5% since midnight UTC, while the U.S. dollar index has risen by 0.25%. The stalled peace negotiations between Iran and the U.S. continue to influence traditional markets, with Brent crude oil now solidly above $105 per barrel.
Additionally, derivatives positioning and market trends are being closely watched.