Tuesday marked the second consecutive day of decline for the crypto market, with bitcoin and ether each experiencing a loss of approximately 0.75% since midnight UTC. This downturn follows bitcoin's repeated inability to surpass the $80,000 resistance level over the past week, with the most recent attempt occurring during Asian trading hours on Monday. The enthusiasm from last week's significant price jump from $70,000 to $79,500 is waning, as several key indicators have turned bearish, including the reversal of the Coinbase Premium index into negative territory, signaling diminished demand from US investors. Meanwhile, US equities are poised to open lower, with Nasdaq 100 futures down 0.5% since midnight UTC, while the US dollar index has risen by 0.25%.
Ongoing stalled peace negotiations between Iran and the US continue to impact traditional markets, with Brent crude oil now steadily above $105 per barrel. Additionally, derivatives positioning is also being closely watched.