Bitcoin stays above $111,000, while Dogecoin leads the market’s gains; a new firm seeks $200 million for its BTC treasury.

Bitcoin remained steady above $111,000 on Monday as investors awaited U.S. inflation data, while corporate treasury adoption in Africa helped provide support amid turbulence in Japan’s bond market.

Ether (ETH) traded 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. Overall, major cryptocurrencies saw modest market cap increases, though trading volumes remain below the highs of August.

Macro Data in Focus
Traders are monitoring U.S. producer and consumer inflation reports due midweek. Jeff Mei, COO at BTSE, commented: “Cryptocurrencies have traded in a subdued range 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 below $100 million—well under summer levels—macro signals are now crucial for market direction.

African Treasury Adoption
Johannesburg-based Altvest Capital announced plans to raise $210 million to purchase Bitcoin and rebrand as Africa Bitcoin Corp., allowing pension funds and unit trusts to gain regulated BTC exposure via equity. This approach mirrors strategies used by U.S. and Japanese firms such as MicroStrategy and Metaplanet.

Japan Adds Uncertainty
Prime Minister Shigeru Ishiba’s resignation triggered a selloff in long-dated Japanese government bonds, pushing 30-year yields to 3.285% and steepening the curve. Yen volatility may influence Bitcoin and broader crypto markets, given its historical safe-haven role.

Outlook
Bitcoin is currently balancing supportive flows from treasury adoption and ETF inflows against macro risks from Japan and the U.S. Traders now look to midweek inflation data to determine the market’s next move, with September historically being a weaker month for crypto.