On Tuesday, the cryptocurrency market experienced its second consecutive day of decline, with both bitcoin and ether dropping approximately 0.75% since midnight UTC. This downturn follows bitcoin's failure to break through the $80,000 resistance level twice in the past week, with the most recent attempt occurring during Monday's Asian trading hours. The enthusiasm from last week's price surge from $70,000 to $79,500 is dissipating as key price indicators turn bearish, including the Coinbase Premium index, which has flipped negative, signaling a decrease in demand from US investors.
US equities are poised to open lower on Tuesday, with Nasdaq 100 futures down 0.5% since midnight UTC, while the US dollar index has risen by 0.25%. The stalled peace negotiations between Iran and the US continue to influence traditional markets, with Brent crude oil now trading above $105 per barrel.
Additionally, derivatives positioning and market trends are being closely watched.