The cryptocurrency market experienced its second consecutive daily decline on Tuesday, with both bitcoin and ether dropping approximately 0.75% since midnight UTC. This downturn follows two unsuccessful attempts by bitcoin to surpass the $80,000 resistance level over the past week, the most recent being during Asian trading hours on Monday. The enthusiasm from the previous week's significant price jump from $70,000 to $79,500 is starting to fade as several key indicators turn bearish, including the Coinbase Premium index, which has flipped negative, signaling decreased demand from US investors.
Meanwhile, US equities are poised to open lower on Tuesday, with Nasdaq 100 futures down 0.5% and the US dollar index up 0.25% since midnight UTC. Ongoing stalled peace talks between Iran and the US continue to influence traditional markets, with Brent crude oil now firmly above $105 per barrel.
Additionally, derivatives positioning is being closely monitored.