The cryptocurrency market has experienced a bearish turn once again, with the top cryptocurrencies trading in the red territory. Despite the recent inflows in Bitcoin (BTC) ETFs, the flagship cryptocurrency has retreated back to the $60,000 price level, dragging down other major altcoins like Ethereum (ETH), Solana (SOL), and XRP.

Bitcoin and Altcoin Prices

Bitcoin's price has decreased by 1.82% in the past 24 hours, trading at $60,644.16. The cryptocurrency's 24-hour lows and highs are $59,985.40 and $61,768.43, respectively. Despite the positive inflows in BTC ETFs, the price action has failed to show a significant upside momentum.

Ethereum, the second-largest cryptocurrency, has also seen a 2.21% dip, trading at $3,379.78. Solana, another prominent altcoin, has witnessed a 3.73% price fall, currently trading at $141.58. The Ripple-backed asset XRP has also experienced turbulent action, trading at $0.4739, down 0.33% over the past day.

Meme Coins and Top Gainers

The meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have also followed the bearish trend, declining by 2.21% each. Other meme coins like PEPE, WIF, and BONK have also seen a 1-7% decrease in their prices.

On the positive side, Quant (QNT) has emerged as the top gainer, surging by 7.92% to $78.82. Mog Coin (MOG) and Arweave (AR) have also seen notable gains of 6.01% and 4.06%, respectively.

Market Overview and Outlook

The global crypto market cap has decreased by 1.81% to $2.25 trillion, and the total crypto market volume in the last 24 hours has also slipped by 0.65% to $60.95 billion. This bearish movement comes despite the recent inflows in Bitcoin ETFs, which had previously been seen as a positive catalyst for the market.

As the cryptocurrency market continues to navigate through these turbulent times, investors and traders will be closely monitoring the hourly timeframe charts for any potential shifts in the price action. The market's ability to recover and maintain a bullish momentum will be crucial in the coming days.