The cryptocurrency market experienced its second consecutive day of decline on Tuesday, with both bitcoin and ether losing approximately 0.75% since midnight UTC. This downturn follows bitcoin's failed attempts 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 from last week's surge from $70,000 to $79,500 is starting to wane as several key price indicators turn bearish, including the negative flip of the Coinbase Premium index, which signals a decrease in demand from US investors. US equities are also expected to open lower on Tuesday, with Nasdaq 100 futures trading 0.5% lower since midnight UTC, while the US dollar index (DXY) has risen by 0.25%.
The stalled peace negotiations between Iran and the US continue to influence traditional markets, with Brent crude oil now solidly above $105 per barrel. Derivatives positioning and market trends are also being closely monitored.