For the second consecutive day, the cryptocurrency market experienced a downturn on Tuesday, with both bitcoin and ether dropping approximately 0.75% since midnight UTC. This decline follows two unsuccessful attempts by bitcoin to break through the $80,000 resistance level over the past week, the most recent being during Monday's Asian trading hours.
The enthusiasm from last week's significant jump from $70,000 to $79,500 is waning as several key indicators turn 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 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 impact traditional markets, with Brent crude oil now steadily above $105 per barrel. The positioning in derivatives markets also reflects a cautious approach among traders.