Bitcoin Slips 1% as Pump.fun Jumps 20% on Influencer Buzz
Updated
Updated · CoinDesk · Jul 20
Bitcoin Slips 1% as Pump.fun Jumps 20% on Influencer Buzz
2 articles · Updated · CoinDesk · Jul 20
Summary
Bitcoin lost 1% since midnight UTC while ether fell 0.65%, even as Nasdaq 100 and S&P 500 futures rose 0.35% and 0.20%, extending crypto’s 2026 divergence from equities.
Fear gauges stayed heavy: CoinMarketCap’s Fear and Greed index sat at 34, average crypto RSI slipped to 44.07, and negative cumulative volume delta across major tokens pointed to bears still driving flows.
Trading activity rose without fresh conviction, with 24-hour futures volume up 81% to $127 billion while open interest held near $111 billion; bitcoin leverage demand stalled around 750,000 BTC and Solana open interest fell to 62 million tokens.
Pump.fun bucked the slide, surging 20% after influencer Ansem touted reported monthly revenue of $30 million to $40 million, while Bitcoin Cash futures open interest jumped 20% to a record-matching 1.73 million tokens despite a 3% price drop.
Altcoin appetite has improved only selectively: CoinMarketCap’s Altcoin Season reading reached 55, the highest in months, but bitcoin’s 30-day implied volatility hovered near 36% and puts still traded richer than calls.