Bitcoin breaks below the "bull-bear line" proposed by Tom Lee, as bearish sentiment rises in the market

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 consolidating around the $75,000 support level. Previously, Bitcoin failed to break through the $78,000 resistance level, raising concerns about the re-emergence of bearish signals. Ethereum has also weakened, but US stocks continue to diverge from the crypto market trend, with the S&P 500 and Nasdaq 100 futures both hitting new all-time highs. Additionally, the $55,000 strike price Bitcoin put option expiring in September has become one of the most actively traded contracts in the past 24 hours, reflecting the market's increasing need to hedge against further downside risks for Bitcoin. (CoinDesk)