On Tuesday, the cryptocurrency market experienced its second consecutive day of decline, with both bitcoin and ether losing approximately 0.75% of their value since midnight UTC. This downturn follows two failed attempts by bitcoin to break through the $80,000 resistance level over the past week, the most recent of which occurred during Asian trading hours on Monday. As a result, the enthusiasm from last week's surge from $70,000 to $79,500 is beginning to wane, with several key price indicators turning bearish.
Notably, the Coinbase Premium index has flipped negative, signaling a decline in demand from U.S. investors.
U.S. equities 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 firmly above $105 per barrel. Furthermore, derivatives positioning is also being closely monitored.