By Mehdi Hasan
Growboo
Bitcoin traded sideways on Monday, consolidating last week’s gains as investors awaited the U.S. Federal Reserve’s interest rate decision later this week.
The world’s largest cryptocurrency dipped 0.4% to $114,860 at 09:47 ET (13:47 GMT), holding onto a roughly 5% rise from the previous week. While optimism around rate cuts has lent support, concerns about the long-term sustainability of corporate treasury demand capped further upside.
Corporate treasury concerns weigh on sentiment
Bitcoin has rebounded from its late-summer slump but still trades well below its August highs. Pressure has mounted after Strategy — formerly MicroStrategy — was denied inclusion in the S&P 500. Analysts at JPMorgan warned that without broader index adoption, corporate treasury allocations may have limited growth potential.
The caution surrounding treasuries has kept crypto performance muted compared to equities, which have rallied more strongly in recent weeks.
Fed decision in focus
Markets are widely expecting the Federal Reserve to deliver at least a 25 basis point rate cut at its meeting this week. CME FedWatch data shows a 99.6% probability of such a move, with only a slim chance of no change.
Lower rates typically benefit speculative assets like crypto, but uncertainty lingers around how aggressively the Fed will ease policy, given sticky inflation and cautious remarks from Chair Jerome Powell.
Strategy expands Bitcoin holdings
Despite doubts over the treasury model, Strategy boosted its holdings with a fresh purchase of 525 BTC between Sept. 8–14, worth about $60.2 million at an average price of $114,562.
The firm now controls 638,985 BTC — valued around $73.4 billion — at an average acquisition price of $73,913 per coin. Executive Chairman Michael Saylor noted the stash represents more than 3% of Bitcoin’s total capped supply, leaving the company with an estimated $26 billion in unrealized gains.
Altcoins cool after strong rebound
Other digital assets lagged behind Bitcoin’s steadiness. Ethereum slipped 2.2% to $4,514, while XRP edged down 1% to $3.02. Solana shed 4% and Cardano fell 3%.
Meme tokens also came under heavy pressure, with Dogecoin plunging 7.3% and $TRUMP down 2.6%.
