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

Odaily Planet Daily News: The cryptocurrency market is currently under sustained pressure. Bitcoin briefly fell below the $76,000 "bull-bear line" proposed by Tom Lee, and is now fluctuating around the $75,000 support level. Previously, Bitcoin failed to break through the $78,000 resistance level, sparking concerns that a bearish signal might reappear in the market. Ethereum has also weakened, but the US stock market continues to diverge from the cryptocurrency market. The S&P 500 and Nasdaq 100 futures have both hit record highs. Additionally, the Bitcoin put option with a strike price of $55,000 expiring in September has become one of the most actively traded contracts in the past 24 hours, reflecting the market's increasing hedging demand against the risk of further Bitcoin declines. (CoinDesk)