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 surpass the $80,000 resistance level over the past week, including its most recent effort during Asian trading hours on Monday. The enthusiasm sparked by last week's surge from $70,000 to $79,500 is starting to wane, as several key price indicators have turned bearish, including the Coinbase Premium index, which has flipped negative, signaling a decline in demand from US investors. Meanwhile, US equities are poised to open lower on Tuesday, with Nasdaq 100 futures trading 0.5% lower 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 firmly above $105 per barrel. Additionally, derivatives positioning is also being closely watched.