Fluid leak past the washers in the master cylinder - you are loosing pressure in the main hydraulic pump, which is the M/C. You said you got a new master cylinder - did you just fit it, or did you first strip, clean, check, re-assemble & then fit ?? Reason I ask is because a friend got a new reconditioned (stainless sleeved) twin cylinder for his Austin Healey Sprite and had bad brakes, I went over to help, 2 hours of bleeding later I pulled the newly rebuilt M/C off and washed out the most incredible amount of machining swarf from the innards.... sold as fully assembled & ready to fit. Needless to say I fitted new washers as the supplied new ones had been running in grinding paste
We've identified the source of your issue as the MC where the piston isn't returning far enough to uncover the feed hole from the reservoir which is also the bleed-back return for excess fluid from heat expansion. In your shoes I'd take the MC off and strip it on the bench, then check carefully. You said new, but is it reconditioned with a stainless sleeve or a brand new cast iron unit. Check that the fluid feed holes have been drilled through correctly and that there are no sharp edges or burrs protruding into the smooth bore.
Brake Cleaner spray is a good start to getting things clean, Remember that the ONLY other cleaning fluid compatible with brake fluid is Methylated Spirits or White Spirit, nothing else. Use 3 clean ice cream tubs in a row, wash and clean using an old tooth brush is the first one, again in the second tub and a final rinse off in the third one. Stand to dry on clean paper towel. A dollar to a dime you will have muck in the bottom of the first two tubs. Now you need new washers as if there's swarf in the tubs the washer edges will have sustained damage.
I'm a bit of a pedant with brakes, but the alternative is dire & price of bodywork & chrome is heavy
Aye
Greig