Bitcoin has fallen below the "bull-bear line" proposed by Tom Lee, and market bearish sentiment is heating up

Odaily Odaily reports that the crypto market continues to face pressure, with Bitcoin briefly falling below the $76,000 "bull-bear line" proposed by Tom Lee and consolidating around the $75,000 support level. Previously, Bitcoin failed to break through the $78,000 resistance level, sparking concerns about the re-emergence of bear market signals. Ethereum is also weakening, but the U.S. stock market continues to decouple from the crypto market trend, with both the S&P 500 and Nasdaq 100 futures hitting record highs. Additionally, Bitcoin put options with a strike price of $55,000 expiring in September have become one of the most actively traded contracts in the past 24 hours, reflecting the market's increased hedging demand against further downside risks for Bitcoin. (CoinDesk)