On Tuesday, the cryptocurrency market experienced its second consecutive day of decline, with bitcoin and ether both dropping by approximately 0.75% since midnight UTC. This downturn follows two failed attempts by bitcoin 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 significant price surge, which saw bitcoin jump from $70,000 to $79,500, is starting to wane as several key price indicators turn bearish. Notably, the Coinbase Premium index has flipped negative, signaling decreased demand from US investors.
Meanwhile, US equities are poised to open lower, with Nasdaq 100 futures trading 0.5% lower since midnight UTC, while the US dollar index has risen by 0.25%. Ongoing stalled peace talks between Iran and the US continue to impact traditional markets, with Brent crude oil now firmly above $105 per barrel. Additionally, derivatives positioning is also being closely watched.