Bitcoin Rises to $108K at Start of “Crypto Week”; Tariff Jitters Cap Gains

Bitcoin climbed to around $108,000 at 17:10 WIB Monday, buoyed by optimism surrounding the upcoming legislative “Crypto Week” in Washington, D.C. .

🚀 Market Drivers

Legislative Momentum
U.S. lawmakers plan to launch “Crypto Week” on July 14, proposing major bills such as the CLARITY Act, Anti-CBDC Surveillance State Act, and GENIUS Act. These measures aim to clarify regulations around stablecoins, digital infrastructure, and privacy—boosting investor confidence.

Elon Musk Signals Support
Elon Musk hinted that his newly announced “American Party” would embrace Bitcoin, posting, “Fiat has no hope, so yes,” signaling a significant political endorsement.

⚠️ Risks on the Radar

Markets remain cautious due to potential new U.S. tariffs. Former President Trump announced that tariff notices would be sent Monday at noon ET, with hikes possibly ranging from 10–70%, effective August 1. The broad lack of specifics has kept traders on edge. 

📈 Altcoin Snapshot

The broader crypto market edged higher alongside Bitcoin:

• Ethereum up 2.5% to $2,570.52

• XRP up 2.3% to $2.27

• Solana, Cardano, Polygon each rose ~2%

• Dogecoin surged nearly 5.8%, while $TRUMP token gained 2.3%