On Tuesday, the cryptocurrency market experienced its second consecutive decline, with both bitcoin and ether losing approximately 0.75% since midnight UTC. This downturn follows two unsuccessful attempts by bitcoin to surpass the $80,000 resistance level over the past week, the most recent of which occurred during Asian trading hours on Monday. The enthusiasm sparked by last week's surge from $70,000 to $79,500 is starting to dissipate as several key price indicators turn bearish, including the Coinbase Premium index, which has flipped negative, signaling waning 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 talks between Iran and the US continue to influence traditional markets, with Brent crude oil now firmly above $105 per barrel. Additionally, derivatives positioning and market sentiment are being closely watched.