On Tuesday, the cryptocurrency market saw its second consecutive day of decline, with bitcoin and ether each dropping 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, the most recent attempt occurring during Asian trading hours on Monday. The enthusiasm from last week's significant jump from $70,000 to $79,500 is starting to wane as several key indicators turn bearish, including the Coinbase Premium index turning negative, signaling a decrease in 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 steadily above $105 per barrel.
The positioning of derivatives and the state of the token market are also being closely watched.