Bitcoin ETFs Attract $2.7B Amid Market Pullback for XRP, DOGE, SOL
- Bitcoin traders are optimistic about stable price increases despite recent profit-taking.
- BTC briefly dropped to $120,000, affecting the broader market; ETH fell 2.4%, and SOL, XRP, DOGE, ADA decreased by up to 3%.
- U.S.-listed spot ETFs saw inflows of $2.72 billion, indicating Bitcoin's role as a digital hedge alongside gold, which surpassed $4,000 per ounce.
- The Federal Reserve's dovish stance post-September rate cut impacts market sentiment.
- Recent patterns show pauses in BTC rallies, with potential pullbacks into the $107,000–115,000 range likely before October ends.
- Concerns arise around the Fed's key rate decision on October 29, influencing market movements.
- Derivatives market pressure has eased, according to CryptoQuant data.
- ETF flows will test whether demand is sustainable or temporary.
- The U.S. government shutdown adds uncertainty, favoring haven assets like gold and Bitcoin.
- Key resistance for BTC is at $125,000, with a risk of dropping back to the $115,000–$118,000 range if it fails to hold.
Privacy Tokens Surge
- Zcash (ZEC) increased nearly 80% in a week and over 400% since late summer.
- Monero (XMR), Dash (DASH), and Railgun also rallied, rising up to 40% in the last 24 hours.
- This activity correlates with increased interest in privacy tools and Ethereum Foundation's privacy research initiatives.
