For the second consecutive day, the cryptocurrency market experienced a decline on Tuesday, with both bitcoin and ether losing approximately 0.75% since midnight UTC. This downturn follows bitcoin's failure to break through the $80,000 resistance level on two occasions over the past week, the most recent attempt occurring during Asian trading hours on Monday. The enthusiasm from last week's significant jump from $70,000 to $79,500 is starting to wane as several key price indicators have turned bearish, including the Coinbase Premium index, which has flipped negative, signaling diminishing demand from US investors.
Meanwhile, US equities are poised to open lower on Tuesday, with Nasdaq 100 futures trading 0.5% lower 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 firmly above $105 per barrel. Additionally, derivatives positioning is also being closely watched.