For the second consecutive day, the cryptocurrency market experienced a downturn on Tuesday, with both bitcoin and ether (ETH) witnessing a decline of approximately 0.75% since midnight UTC. This downward trend follows two unsuccessful attempts by bitcoin to break through the $80,000 resistance level over the past week, with the most recent attempt occurring during Asian trading hours on Monday.
The enthusiasm sparked by last week's significant surge from $70,000 to $79,500 is beginning to wane as several key price indicators turn bearish, including the Coinbase Premium index, which has flipped negative, signaling a decrease in demand from U.S. investors.
U.S. equities are also poised to open lower on Tuesday, with Nasdaq 100 futures trading 0.5% lower since midnight UTC, while the U.S. dollar index (DXY) has increased 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. Additionally, derivatives positioning and market commentary are also worth noting.