Bitcoin rises 1% to $109,056.6 as optimism around Crypto Week and Elon Musk's support grows.

Bitcoin rose 1% to $109,056.6 on Monday, driven by optimism around Crypto Week and Elon Musk’s support. Investors remained cautious amid uncertainty over Trump’s tariff plans.

U.S. lawmakers will introduce bills like the CLARITY Act to regulate digital assets during Crypto Week, boosting market sentiment for crypto and offering hope for regulatory clarity.

Elon Musk’s America Party will support cryptocurrencies, with Musk endorsing Bitcoin. His influence has reignited interest, especially among younger voters, while his companies hold significant Bitcoin reserves.

Despite positive crypto news, market caution persists due to Trump’s tariff uncertainty. Tariff letters will be sent to global partners, affecting risk-on assets like cryptocurrencies.

Track real-time crypto prices with the Cryptocurrency Daily API and stay informed on regulatory developments with the Crypto News API for better market insights.

Bitcoin may break out of its trading range with the upcoming Crypto Week and improved regulatory visibility, depending on macroeconomic factors. Traders are cautious, but legislative clarity and endorsements like Musk’s could drive stronger price action.