Bitcoin holds steady above $111K, with Dogecoin leading the day’s gains; a new firm eyes $200 million for its BTC treasury.

Bitcoin traded above $111,000 on Monday, maintaining last week’s range as traders awaited U.S. inflation reports for direction. Corporate treasury activity in Africa offered support, even as Japan’s bond market turbulence added uncertainty to the macro backdrop.

Ether (ETH) hovered near $4,293, XRP rose 2.5% to $2.90, Solana (SOL) added 2.6% to $208, and Dogecoin (DOGE) outperformed with a 7% gain to $0.2374. Market caps across major cryptocurrencies saw modest increases, though trading volumes remain below August highs.

Macro Data in Focus
Investors are closely watching U.S. producer and consumer inflation data due midweek. Jeff Mei, COO of BTSE, said: “Cryptocurrencies have been trading at subdued levels as the Fed weighs rate cuts amid persistent inflation. Higher-than-expected readings could pressure Bitcoin and Ethereum, while lower numbers may trigger a rally.” With daily inflows into spot BTC ETFs under $100 million—far below summer peaks—macro catalysts have gained importance.

Corporate Adoption Boosts Bitcoin
Johannesburg-based Altvest Capital plans to raise $210 million to purchase Bitcoin, rebranding as Africa Bitcoin Corp. This move allows pension funds and unit trusts, which cannot directly hold BTC, to gain regulated exposure via equity. The strategy mirrors U.S. and Japanese firms, like MicroStrategy and Metaplanet, leveraging equity issuance to fund long-term Bitcoin reserves.

Japan Adds Headwinds
Prime Minister Shigeru Ishiba’s resignation triggered a selloff in long-dated Japanese government bonds, with 30-year yields hitting 3.285% and the curve steepening. Yen volatility may influence Bitcoin and crypto prices, historically sensitive to macro safe-haven flows.

Outlook
Bitcoin currently balances supportive flows from treasury adoption and ETF inflows against macro risks from Japan and the U.S. Traders now look to this week’s inflation data to guide the next directional move, with September historically a weaker month for crypto.