Bitcoin Stays Bullish Despite Pullback; Privacy Coins Lead Gains
Bitcoin (BTC) traders remain confident about further upside, even as the market sees a minor retracement. Meanwhile, privacy-focused cryptocurrencies are making a strong return.
BTC dipped briefly to $120,000 overnight, dragging broader crypto markets lower. Ether (ETH) fell 2.4% in the past 24 hours, wiping out a week’s worth of gains, while Solana (SOL), XRP ($2.7347), Dogecoin (DOGE, $0.2374), and Cardano (ADA) dropped up to 3%, according to CoinDesk data.
Despite the pullback, U.S.-listed Bitcoin ETFs continue to attract strong inflows, totaling $2.72 billion this week. Analysts say this signals BTC’s rising role as a digital hedge alongside gold, which recently surpassed $4,000 per ounce. The Federal Reserve’s dovish posture following its September rate cut has also bolstered investor sentiment.
Pullbacks have been a recurring feature in recent Bitcoin rallies. After hitting highs in July, BTC fell 9% over three weeks before recovering. August saw a sharper 14% retracement. FxPro analyst Alex Kuptsikevich said BTC could revisit the $107,000–$115,000 range before month-end, particularly ahead of the Fed’s October 29 rate decision.
“Moves below the upper end of this range may raise market concerns, with the Fed’s decision looming,” Kuptsikevich added.
The $107,000–$115,000 zone now marks the balance between dip buyers and patient shorts. Derivatives markets appear less stretched than last month, with CryptoQuant noting a significant easing in selling pressure. ETF flows will determine whether spot demand remains strong or is merely front-loaded.
Macro conditions remain uncertain. The U.S. government shutdown has entered its second week, delaying key economic data. Analysts say such uncertainty favors safe-haven assets like Bitcoin and gold. For BTC, $125,000 remains a key resistance: steady buying could absorb supply, while rapid upside could revert prices to the $115,000–$118,000 range.
Privacy Coins Make a Comeback
Privacy-focused cryptocurrencies are regaining momentum. Zcash (ZEC, $233.01) has surged nearly 80% in a week and over 400% since late summer. Monero (XMR, $331.31), Dash (DASH, $44.32), and smaller tokens like Railgun have also gained up to 40% in the last 24 hours.
The revival is supported by increased activity on Near’s privacy messaging tools, renewed interest in Zcash, and the Ethereum Foundation’s plans to back a privacy-focused research cluster in the coming months.
