The cryptocurrency market has declined for the second consecutive day, with both bitcoin and ether experiencing losses of approximately 0.75% since midnight UTC. This downturn follows bitcoin's repeated failure to surpass the $80,000 resistance level over the past week, with the most recent attempt occurring during Monday's Asian trading hours. As a result, the enthusiasm from last week's significant price surge from $70,000 to $79,500 is waning, accompanied by several key price indicators turning bearish.
Notably, the Coinbase Premium index has flipped negative, signaling decreased demand from US investors. Meanwhile, US equities are poised to open lower, with Nasdaq 100 futures trading down 0.5% and the US dollar index rising 0.25%. Ongoing stalled peace talks between Iran and the US continue to influence traditional markets, with Brent crude oil prices now exceeding $105 per barrel.