KEYTAKEAWAYS
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Bitcoin hits $120,000, yet Google search interest lags behind past bull runs, signaling institution-led growth over retail-driven hype.
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U.S. Congress to vote on major crypto bills, potentially reshaping the regulatory landscape and boosting institutional confidence.
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Pump.fun’s PUMP ICO raises over $500 million from 10,000+ buyers, with notable fund concentration among top contributors.
CONTENT
BITCOIN HITS $120,000, BUT GOOGLE SEARCH INTEREST LAGS BEHIND PREVIOUS BULL MARKETS
As Crypto Week approaches, market sentiment is heating up, with most major crypto sectors posting gains. Bitcoin (BTC) has broken above $120,000 to set another all-time high, while Ethereum (ETH) remains range-bound near $3,000.
However, Google Trends data reveals that despite BTC’s historic price performance, public search interest remains significantly below the peaks seen in the 2017 and 2021 bull markets.
Analysis:
This rally differs from previous retail-driven surges.
Instead of being fueled by public hype, it reflects deeper macroeconomic and policy factors: the U.S. raising its $5 trillion debt ceiling, ongoing deficit spending, and the Trump workgroup’s upcoming crypto policy report are all driving institutional interest in BTC as a hedge.
Seasonal tailwinds, rising call option activity, and short liquidations in July have also supported the recent upward momentum.
U.S. CONGRESS TO VOTE ON MULTIPLE CRYPTOCURRENCY BILLS THIS WEEK
This week, the U.S. Congress is set to vote on several critical crypto-related bills, including the GENIUS Act (focused on promoting innovation), the CLARITY Act (aimed at regulatory transparency), and the Anti-CBDC Surveillance State Act (limiting surveillance via central bank digital currencies).
While the final details remain unreleased, these bills are seen as potentially transformative for the U.S. crypto industry.
Analysis:
The GENIUS and CLARITY Acts suggest a push to provide the crypto sector with a clearer, innovation-friendly regulatory framework, while the Anti-CBDC Act addresses privacy concerns around digital surveillance.
Although the market remains cautious until formal passage, the legislation—if enacted—could provide legal clarity, attract institutional capital, and accelerate the maturation of the U.S. crypto ecosystem.
PUMP ICO ATTRACTS OVER 10,000 BUYERS, 200+ ADDRESSES SUBSCRIBE OVER $1M
On July 12, Pump.fun completed its PUMP token presale in just 12 minutes, attracting 23,959 KYC-verified wallets. A total of 10,145 addresses successfully purchased tokens, with an average contribution of $44,209.
Notably, 89.7% of the funds were raised directly through the official website, while only 10.3% came from centralized exchanges (CEXs). Among the participants, 202 wallets each contributed over $1 million, while over 5,700 wallets subscribed with less than $1,000.
Analysis:
Raising over $500 million, Pump.fun’s ICO now ranks as the third-largest in crypto history, underscoring the project’s dominance in the Meme sector.
However, fund concentration is notable: the top 340 addresses collectively contributed more than $300 million, or 60% of the total.
While this institutional-level backing may provide strong price support initially, it also introduces volatility risk if these large holders begin to exit the market.
