XRP, DOGE, and SOL experience a decline on Friday while Bitcoin ETFs strengthen.

Bitcoin (BTC) investors maintain their hopes for more substantial price increases in the coming weeks despite the recent profit-taking. The leading cryptocurrency fell to $120,000 during overnight trading, dragging the overall market down. Ethereum (ETH) lost 2.4% in the last 24 hours, reversing all gains from the past week. Other assets like Solana (SOL), XRP, and Dogecoin (DOGE) also experienced declines of up to 3%, according to CoinDesk data.

Bitcoin is showing a weak appearance despite strong demand for spot ETFs listed on the U.S. stock exchange. This week, $2.72 billion flowed into the ETFs, demonstrating Bitcoin's rising role as a digital store of value alongside gold. Gold surpassed $4,000 per ounce this week. These data points have become too significant to ignore following the Federal Reserve's more relaxed stance after the interest rate cut in September.

During recent rally periods, pullbacks often occurred, which emerged after Bitcoin fell 9% following its peak in July. A similar retracement is said to occur before the end of October in the range of $107,000 to $115,000. FxPro analyst Alex Kuptsikevich stated, "If an attempt is made to go below the upper limit of this range, it will cause concerns in the market." This range represents the balance between buying investors and patient short positions.

In the coming period, ETF flows will test whether spot demand is sustainable. The U.S. government shutdown has entered its second week, leaving investors in uncertainty regarding official data. However, the uncertainty created by the shutdown highlights safe-haven assets like gold and Bitcoin.

Notably, Zcash (ZEC) has seen an 80% increase over the past week, yielding over 400% gains since the spring months. Privacy-focused cryptocurrencies like Monero (XMR) and Dash (DASH) have also surged by up to 40% in the last 24 hours. With growing interest in privacy-supported communication tools these days, the Ethereum Foundation is looking into projects that will support research areas in the coming months.