The cryptocurrency market took a bearish turn on Thursday, with major coins like Bitcoin, Ethereum, Solana and XRP all trading in negative territory. Bitcoin slipped back below $61,000, while Ethereum, Solana and XRP saw declines of 1-3% over the past 24 hours.

This downward pressure comes amid sluggish flows into Bitcoin and Ethereum ETFs, as well as looming selloffs related to the PlusToken scam. The global crypto market cap fell nearly 2% to $2.13 trillion, with total trading volume also down about 3%.

Bitcoin is currently trading around $60,852, having touched a low of $60,314 in the past day. Its market dominance has slipped slightly to 56.59%. Despite recent buzz around the HBO documentary on Bitcoin’s mysterious creator Satoshi Nakamoto, BTC continues to consolidate.

Ethereum dropped over 2% to $2,395, with a daily low of $2,350. There are concerns that the Chinese government may be preparing for a large ETH selloff after 7,000 ETH were recently moved to exchanges.

Solana fell 3% to $140, while XRP dipped about 1% to $0.5272. Popular meme coins like Dogecoin, Shiba Inu, PEPE, WIF and BONK all saw declines of 1-5% as well.

A few coins managed to buck the trend, with First Neiro On Ethereum up 5%, Uniswap gaining 4%, and UNUS SED LEO rising over 1%. On the flipside, Aptos plunged 8.5%, THORChain dropped nearly 7%, and FTX Token fell 6%.

The short-term outlook remains cautious, with Bitcoin and Ethereum both showing slight losses on hourly charts as well. Investors will be closely watching for any signs of trend reversal in the coming days.