Bitcoin extended its recent pullback, falling below the $100,000 mark for the first time since late June. The asset reached an intraday low of $99,941 on OKX before stabilizing slightly. The move places Bitcoin roughly 22% below its peak earlier this month, marking a clear market correction phase following a prolonged rally.
Market expectations have shifted notably. Trading sentiment tracked by prediction market platform Polymarket indicates a 51% probability that Bitcoin could drop to $90,000 before year-end. A month earlier, the probability of such a decline was just 11%, highlighting a rapid shift toward caution among traders.
Analysts attribute the correction to profit-taking behavior, tightening liquidity conditions, and reduced institutional inflows compared to Q3. Funding rates across major derivatives platforms have also normalized, suggesting the unwinding of leveraged long positions.
Franklin Templeton Moves Closer to XRP ETF Approval
Institutional interest in XRP continues to evolve. Asset management firm Franklin Templeton, which oversees more than $1.5 trillion in assets, updated its S-1 registration filing for a proposed XRP exchange-traded fund (ETF). The filing revision includes shortened Section 8(a) language — a procedural adjustment that typically signals the U.S. Securities and Exchange Commission (SEC) may be preparing to move the application forward.
If approved, this would become one of the first spot-based XRP ETFs to hit U.S. markets, following a series of approvals for Bitcoin and Ethereum exchange-traded products earlier this year.
ETF analysts note that the adjustment does not guarantee imminent approval, but it does suggest active regulatory dialogue between Franklin Templeton and the SEC.
Ripple Shareholders Decline $1 Billion Buyback Offer
Separate from the ETF developments, Ripple Labs reportedly saw lower-than-expected shareholder participation in its recent $1 billion tender offer at a $40 billion valuation, according to reporting from The Information.
Many private investors chose to retain their shares, interpreting the valuation and recent corporate developments as supportive of longer-term upside potential. The reluctance to sell follows Ripple’s legal progress against the SEC and its continued focus on global payments infrastructure and institutional adoption.
The limited participation suggests private market investors are positioning Ripple for continued strategic expansion rather than near-term liquidity.
Shiba Inu Faces Increased Selling Pressure
Shiba Inu (SHIB) saw intensified selling activity as roughly 1 billion SHIB tokens were transferred to centralized exchanges in recent sessions. The move coincided with a break below the $0.000010 support level, which has functioned as a key price floor for multiple months.
Volume spikes during the decline suggest capitulation-style behavior, a market phase in which weaker holders exit positions. Analysts caution that without renewed demand or stabilization in broader market conditions, SHIB may face further downside in the short term.
Dogecoin Risks Deeper Decline After Losing Key Price Support
Dogecoin (DOGE) is similarly positioned in a bearish trend, having fallen below the $0.18 support level. The price structure indicates a potential downward continuation toward $0.12, with analysts warning that a break below $0.10 remains possible if momentum does not recover.
The weakness appears linked to both broader meme-asset pullbacks and a reduction in speculative leverage across crypto markets more broadly.
Market Outlook
The Bitcoin price correction has influenced sentiment across the digital asset sector, particularly in high-beta altcoins. However, ongoing regulatory and institutional developments, such as the potential XRP ETF approval, suggest that structural interest in the space remains intact.
Key factors to monitor in the coming weeks include:
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Spot ETF inflows and institutional trading volumes
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Liquidity conditions in crypto derivatives markets
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Federal Reserve policy commentary and global risk sentiment
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Reaction of altcoin markets to elevated volatility in BTC
While short-term price movements remain uncertain, analysts generally view the correction as a normalization phase rather than a structural reversal — provided key macroeconomic and regulatory conditions remain stable.