Bitcoin traded just above $111,000 on Monday as traders waited for U.S. inflation prints that could set the next market direction. Major altcoins showed mixed strength: Ether (ETH) hovered near $4,293, XRP rose about 2.5% to $2.90, Solana’s SOL added roughly 2.6% to $208, and dogecoin DOGE outperformed with a roughly 7% gain to $0.23. Market caps ticked higher but trading volumes remained below August peaks.
The market is largely waiting for macro data for a clear catalyst. Producer and consumer inflation reports due midweek are seen as potential triggers: downside surprises could fuel a crypto rally, while hotter-than-expected prints may pressure risk assets, including BTC and ETH. “Cryptocurrencies have been trading at a subdued level as the Fed weighs rate cuts amid persistent inflation,” said Jeff Mei, COO at BTSE. With daily spot-BTC ETF inflows well under summer highs, macro events now carry more weight for short-term direction.
Corporate treasury moves are adding a fresh narrative. Johannesburg-based Altvest Capital said it will raise $210 million to buy bitcoin and rebrand as Africa Bitcoin Corp. Management says the structure lets pension funds and unit trusts that can’t hold BTC directly gain regulated exposure via equity. Altvest’s current market capitalization sits near $3 million, so the plan is small in absolute terms but mirrors strategies from MicroStrategy and Japan’s Metaplanet, which used share issuance to build large bitcoin reserves.
At the same time, turmoil in Japan’s government bond market has introduced cross-asset uncertainty. Prime Minister Shigeru Ishiba’s resignation sparked a selloff in long-dated JGBs, pushing 30-year yields to about 3.285% and steepening the curve — a move that can influence the yen and, by extension, crypto flows as investors reprice safe-haven exposures.
The near-term picture is therefore mixed: bitcoin is supported by corporate treasury demand and steady ETF flows, yet macro headwinds from both Japan and the U.S. leave volatility likely. Traders should note that inflation surprises and policy shifts can quickly change positioning; this piece does not constitute investment advice.
Source: CoinDesk. Read the original coverage for full details.