A second-quarter survey of 18 mainstream news outlets logged 1,116 Bitcoin (BTC) stories and measured sentiment at 31% positive, 41% neutral, and 28% negative, according to Bitcoin analysis firm Perception.

The data reveal a significant gap between finance-focused media that cover the market extensively and legacy publications that rarely address it.

Sparse coverage

Perception counted two Bitcoin articles in The Wall Street Journal, 11 in the Financial Times, and 11 in The New York Times. These totals trailed every finance-oriented title in the sample and even lagged mid-tier general outlets. 

Audiences that rely on these newspapers for market intelligence received almost no information on an asset that outperformed broad indexes again in the quarter. The report referred to this mismatch as an “editorial blind-spot risk” because institutional investors may base their portfolio decisions on incomplete information.

High-volume business channels drove the most constructive coverage. Forbes produced 194 Bitcoin stories with a positive-to-negative ratio of roughly 1.8:1. At the same time, CNBC published 141 items at 2.5:1; and Fortune filed 117 pieces that leaned modestly positive.

These outlets focused on adoption metrics, exchange-traded funds (ETFs), treasury allocations, and mining economics, presenting Bitcoin as a viable macro asset rather than a novelty.

Negative framing clustered elsewhere. The Independent ran 45 stories with a 2.3:1 negative tilt, while Fox News and Barron’s delivered smaller volumes but similar skepticism, focusing on crime, cybersecurity breaches, and price volatility. 

Perception grouped coverage into three narrative blocs: enthusiastic adoption (Forbes, CNBC), willful minimalism (WSJ, FT, NYT), and persistent skepticism led by traditional general interest outlets.

Information asymmetry

According to the report, the divergence matters because large-cap digital assets now trade with liquidity comparable to some G-10 currencies, and exchange-listed spot ETFs cleared record volumes during the quarter. 

Asset managers that monitor only the low-volume publications may miss regulatory developments, fund flow data, and corporate treasury moves that the high-volume cohort documents in near real-time.

The report concluded that the coverage split creates both risk and opportunity: risk for institutions that depend on undersupplied channels and opportunity for readers who follow the outlets that closely track market mechanics. 

With sentiment and story counts quantifiable every quarter, portfolio teams can benchmark media exposure against price action and adjust their information sources accordingly.

June 25th, 2025 – London, United Kingdom

GSR, crypto’s capital markets partner, today announced a major upgrade to its systematic over-the-counter (OTC) trading platform, expanding foreign exchange (FX) capabilities, improving execution quality, and broadening access to hundreds of digital assets.

The upgraded platform introduces both a new user interface (UI) and an enhanced API, giving clients flexible access to GSR’s liquidity across more than 200 digital assets and 25 fiat currencies. This development reflects GSR’s mission to help founders and institutions scale with confidence by providing institutional-grade liquidity solutions that meet the demands of a rapidly evolving market.

This upgrade further strengthens GSR’s position as the bridge between traditional finance and cryptocurrency markets. 

“This is a meaningful step forward in GSR’s commitment to making digital asset trading infrastructure truly institutional,” said Jakob Palmstierna, President, GSR. “With systematic OTC accessible through both our API and UI, we’re enabling clients to engage with markets faster, more transparently, and with greater precision.”

Key highlights of the upgrade include:

Tighter, More Competitive Pricing:

The upgraded platform delivers improved pricing across major crypto pairs, leveraging proprietary algorithms and liquidity from GSR’s global network of counterparties.

Institutional FX Integration:

Clients now benefit from seamless crypto-to-fiat and fiat-to-fiat execution across more than 25 fiat currencies, with pricing aligned with traditional FX prime brokerage standards. Support includes large trade sizes, up to $100 million per trade or the equivalent in other currencies, with direct access to tier-one FX liquidity.

Unmatched Breadth of Assets:

Clients in approved jurisdictions can access hundreds of digital assets, including altcoins, stablecoins, and emerging tokens, across all trading combinations through both GSR’s precision-built UI and robust API. This seamless access to over 200 assets makes it one of the most comprehensive OTC offerings in the industry.

“This addition to our product offering reinforces our commitment to delivering institutional-grade trading solutions across the digital asset spectrum,” said Kunal Mehta, Head of Trading, GSR. “By combining deep liquidity, best-in-class FX capabilities, and extensive asset coverage, we’re enabling our clients to trade smarter, faster, and more globally.”

With over a decade of specialized expertise in digital assets, GSR delivers more than just execution; we offer deep market insight, strategic guidance, and tailored infrastructure to support growth at every stage.

About GSR

GSR is crypto’s capital markets partner, delivering market making services, institutional-grade OTC trading, and venture backing to founders and institutions. With more than a decade of experience, we provide strategic guidance, market intelligence, and access to a global network to help teams scale. Users can visit www.gsr.io for more information, including the General Terms of Business of Business, relevant disclosures, and GSR’s trading terms.

Contact

Haley Malanga
GSR
haley.malanga@gsr.io