The cryptocurrency market experienced its second consecutive daily decline on Tuesday, with both bitcoin and ether dropping around 0.75% from midnight UTC, trading at $79,966.96 and lower, respectively. This downturn follows two unsuccessful attempts by bitcoin to surpass the $80,000 resistance level over the past week, the most recent being during Monday's Asian trading hours. The enthusiasm from last week's price surge 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 US investors.
US stock markets are also expected to open lower on Tuesday, 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 impact traditional markets, with Brent crude oil now trading above $105 per barrel. Additionally, derivatives positioning and market trends are being closely watched.