Bitcoin breaks below the "bull-bear line" proposed by Tom Lee, market bearish sentiment heats up

Odaily Planet Daily News The crypto market continues to face pressure, with Bitcoin briefly falling below the $76,000 "bull-bear line" proposed by Tom Lee and oscillating near the $75,000 support level. Previously, Bitcoin failed to break through the $78,000 resistance level, sparking concerns about the reappearance of bear market signals. Ethereum also weakened, but U.S. stocks continued to diverge from the crypto market, with the S&P 500 and Nasdaq 100 futures both hitting record highs. Additionally, the Bitcoin put option with a strike price of $55,000 expiring in September became one of the most actively traded contracts in the past 24 hours, reflecting the market's increasing demand for hedging against the risk of further Bitcoin declines. (CoinDesk)