On Tuesday, the cryptocurrency market experienced its second consecutive day of decline, with both bitcoin and ether losing approximately 0.75% since midnight UTC. This downturn follows bitcoin's failure to break through the $80,000 resistance level on two occasions over the past week, with the most recent attempt occurring during Asian trading hours on Monday. The enthusiasm from last week's significant price surge from $70,000 to $79,500 is starting to wane as several key price indicators have turned bearish, including the Coinbase Premium index, which has flipped negative, signaling decreased demand from U.S. investors.
Additionally, U.S. equities are poised to open lower on Tuesday, with Nasdaq 100 futures trading 0.5% lower 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 standing firmly above $105 per barrel. Furthermore, derivatives positioning is also being closely watched.