Bitcoin has fallen below the "bull-bear line" proposed by Tom Lee, with bearish sentiment intensifying in the market

According to Odaily, the crypto market continues to face pressure, with Bitcoin briefly dropping below the $76,000 "bull-bear line" proposed by Tom Lee and oscillating around the $75,000 support level. Previously, Bitcoin failed to break through the $78,000 resistance level, sparking concerns about the re-emergence of bearish signals. Ethereum has also weakened, but U.S. stocks continue to diverge from the crypto market, with S&P 500 and Nasdaq 100 futures both hitting new all-time highs. Additionally, Bitcoin put options with a strike price of $55,000 expiring in September have become one of the most actively traded contracts over the past 24 hours, reflecting the market's growing demand for hedging against further downside risks in Bitcoin. (CoinDesk)