The cryptocurrency market experienced its second consecutive day of decline on Tuesday, with both bitcoin and ether dropping approximately 0.75% since midnight UTC. This downturn follows two unsuccessful attempts by bitcoin to break through the $80,000 resistance level over the past week, the most recent of which occurred during Asian trading hours on Monday. The enthusiasm sparked by last week's significant price surge from $70,000 to $79,500 is waning, as several key indicators have turned bearish, including the Coinbase Premium index, which has flipped negative, signaling decreased demand from US investors. Meanwhile, US equities are poised to open lower, with Nasdaq 100 futures down 0.5% 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 solidly above $105 per barrel. Additionally, derivatives positioning is also being closely watched.