On Tuesday, the cryptocurrency market experienced its second consecutive day of decline, with both bitcoin and ether losing approximately 0.75% of their value 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 that followed last week's significant price jump from $70,000 to $79,500 is starting to wane, as several key indicators have turned bearish, including the Coinbase Premium index, which has flipped negative, signaling decreased demand from U.S. investors. Meanwhile, U.S.
equities are poised 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%. Ongoing stalled peace talks between Iran and the U.S. continue to influence traditional markets, with Brent crude oil now firmly above $105 per barrel.
Additionally, derivatives positioning is also being closely watched.