On Tuesday, the cryptocurrency market saw its second consecutive day of decline, with bitcoin and ether each dropping around 0.75% since midnight UTC, now trading at $79,784.71 and losing steam after failing to break through the $80,000 resistance level twice in the past week, most recently during Monday's Asian trading hours. The enthusiasm from the previous week's surge from $70,000 to $79,500 is dissipating as key price indicators turn bearish, including the Coinbase Premium index, which has flipped negative, signaling decreased demand from US investors.
US stocks 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 firmly above $105 per barrel, and derivatives positioning also reflects a cautious stance.