Crypto Market Fails to Extend Uptrend as Bitcoin Falls Despite ETF Inflows

rket has failed to continue its uptick today as Bitcoin, Ethereum, and other altcoins are seen trailing a bearish path over the past 24 hours.

The crypto market encountered a bearish session on Monday, with Bitcoin, Ethereum, and other altcoins showing a collective decline in their prices over the past 24 hours. This downturn follows a period of sustained gains last week, which saw several cryptocurrencies clocking double-digit gains.

These negative price movements led to a decrease in the total market capitalization for all cryptocurrencies, which now stands at $2.34 trillion, reflecting a decline of 1.89% over the last day.

The general market trading volume also experienced a stretch of this bearish momentum. As of press time, the global market volume is $73.11 billion, reflecting a decline of 15.82% over the last day.

Bitcoin Falls Despite ETF Inflows

Despite the crypto space continuing to witness streaks of inflows from Bitcoin ETFs in the last few days, Bitcoin has slipped below the $65,000 mark it achieved during its previous intraday trading session. The last 24 hours saw the world’s largest cryptocurrency fall by 1.64%, and as of press time, it trades at $63,600.

Data provided by CoinMarketCap shows that Bitcoin’s last intraday session saw the coin trade as high as $65,086 earlier today. Although Bitcoin had traded bearishly over the past day, bullish sentiment votes on the asset are still rising. LunarCrush metrics show that about 81% of investors are bullish on Bitcoin.

Nonetheless, the negative price trend was mirrored by altcoins and memecoins following multiple losses. Over the past day, ETH, BNB, and SOL declined by 1.04%, 1.47%, and 1.12%, respectively. XRP dipped the most among top altcoins following a decrease of 6.64% to $0.562 over the last day.

Dogwifhat Hits Biggest Gain

Dogwifhat(WIF) defied the negative market trend as it recorded daily gains of up to 9%, emerging as the biggest gainer of the day. The coin is trading at $2.32, an increase of %9.42 over the last day.

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