XRP, DOGE, SOL Face Friday Correction as Bitcoin ETFs Attract $2.7B Weekly Inflows

Bitcoin (BTC) traders maintain optimism about steady price growth in coming weeks, despite profit-taking slowing the recent record-breaking rally. The leading cryptocurrency briefly dropped to $120,000 overnight, pulling the broader market down. Ethereum (ETH) declined 2.4% over 24 hours, erasing all weekly gains, while Solana's SOL, XRP, Dogecoin (DOGE) and Cardano's ADA fell up to 3%, according to CoinDesk data. The bearish BTC trend contrasts with continued demand for U.S. spot Bitcoin ETFs, which attracted $2.72 billion in inflows this week. Traders note this highlights Bitcoin's emerging role as a digital hedge alongside gold, which surpassed $4,000 per ounce this week. These significant inflows coincide with the Federal Reserve's dovish stance following its September rate cut. Market pauses have become common during recent rallies. After July's peak, Bitcoin declined 9% over three weeks before recovering. August saw a similar pattern with a deeper 14% correction. FxPro analyst Alex Kuptsikevich suggested Bitcoin could retreat to the $107,000-115,000 range before October ends, particularly with the Fed's rate decision on October 29th approaching as a key macroeconomic event. The derivatives market shows reduced strain compared to last month, with CryptoQuant reporting significantly eased seller pressure. ETF flows will ultimately test whether spot demand is sustainable or simply front-loaded. The macroeconomic landscape remains largely unchanged. The U.S. government shutdown continues into its second week, creating data uncertainty that analysts say benefits haven assets like gold and Bitcoin. For Bitcoin, the crucial resistance level remains $125,000. Gradual approaches may absorb supply, while rapid rejections could return prices to the $115,000-118,000 range. Privacy cryptocurrencies are experiencing renewed market attention. Zcash (ZEC) has surged nearly 80% weekly and over 400% since late summer. Monero (XMR), Dash (DASH), and smaller projects like Railgun have also gained up to 40% in 24 hours, driven by increased activity on Near's privacy messaging tools and growing interest in privacy-focused tokens.