The cryptocurrency market experienced its second consecutive decline on Tuesday, with both bitcoin and ether losing approximately 0.75% since midnight UTC. This downturn follows two unsuccessful attempts by bitcoin to surpass the $80,000 resistance level over the past week, the most recent of which occurred during Asian trading hours on Monday. The enthusiasm from the previous week's significant price surge from $70,000 to $79,500 is starting to dissipate as key indicators turn bearish, including the negative flip of the Coinbase Premium index, signaling decreased demand from U.S. investors.
Meanwhile, U.S. equities are expected 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 influence traditional markets, with Brent crude oil now firmly above $105 per barrel.
The derivatives market is also reflecting a shift in sentiment.