Over 70% of US crypto investors approve of President Donald Trump’s administration’s approach to crypto policy, according to a recent survey conducted by research firm HarrisX. 

HarrisX polled 1,096 adults online from June 18 to June 19, including 230 self-identified crypto investors.

Among that cohort, 81% said they follow the administration’s crypto actions, 73% approved of the policy track, and 71% judged those measures beneficial to the investment case for digital assets. 

Meanwhile, roughly 49% of all retail investors described the impact as positive, while 19% were unsure, and 17% viewed the policy mix as negative.

The poll’s margin of error was measured at plus or minus 6.5% for the crypto-investor subsample and plus or minus 3% for the general adult population.

Influence on allocation decisions

The report found that 64% of US crypto investors and 40% of retail investors stated that the administration’s policy makes them more likely to add digital assets to their portfolios. 

The intent lines up with a broader rise in risk appetite, as 82% of crypto investors consider the current environment a good entry point, up 9% from a March benchmark. Meanwhile, 73% plan to make purchases within 30 days, a 6% increase.

Bullish views on returns also accelerated, with 60% now expecting prices to rise over the next month, up 6% from March. Furthermore, 68% expect gains over the next 12 months, a 7% increase.

These outlook shifts accompany growing approval across other policy categories, but crypto remains the strongest area, producing a net approval score of +56%. By comparison, the survey recorded a 48% increase in reducing government costs and a 39% increase in the economy.

Segmentation and awareness gaps

The awareness of policy details among crypto investors far outpaces that of the general market. Roughly 81% of crypto investors said they were familiar with the policies, compared to 47% of all retail investors and 34% of the broader public.

HarrisX said the disparity highlights an opportunity for education campaigns targeting investors who remain undecided about the regulatory climate.

While 63% of crypto investors approved of the president’s overall performance in March, that figure climbed to 72% in June, mirroring gains in market sentiment.

HarrisX collected responses through multiple opt-in web panels and weighted the results to achieve demographic balance across age, gender, region, race, and income.

Mentioned in this article

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

As Asia begins its trading day, bitcoin

is trading above $104,500 and, despite a possible looming war in the Middle East, has been relatively flat on the day with negligible market movement. Indeed, for the last full week, BTC is only down 2%, according to CoinDesk market data.

Analysts are debating whether the crypto market’s current stillness is a sign of strength or if something more precarious is afoot.

Three new reports this week from CryptoQuant, Glassnode, and trading firm Flowdesk all point to the same surface conditions: low volatility, tight price action, and subdued on-chain activity. Additionally, retail participation has waned, and institutional players, from ETFs to whales, are now shaping the structure of flows.

But it’s CryptoQuant that’s flashing the most urgent warning.

In its June 19 report, CryptoQuant argued that BTC could soon revisit $92,000 support or even fall as low as $81,000 if demand continues to deteriorate.

Spot demand is still increasing, but well below trend. ETF flows have dropped by more than 60% since April, while whale accumulation has halved. Short-term holders, who are usually newer market participants, have shed approximately 800,000 BTC since late May.

Their demand momentum indicator, which tracks directional buying strength across key cohorts, is now reading negative 2 million BTC, the lowest in CryptoQuant’s dataset.

Glassnode, however, sees the same signals and arrives at a far less dire conclusion.

In its weekly on-chain update, the firm acknowledges that the Bitcoin blockchain is “quiet,” meaning transaction counts are down, fees are minimal, and miner revenue is subdued.

However, this suggests that it may not be a weakness, but rather a reflection of the network’s evolution. On-chain settlement volume remains high, but it’s concentrated in large-value transfers, suggesting the chain is increasingly being used by institutions and whales.

The derivatives market, Glassnode notes, now dwarfs on-chain activity, with futures and options volumes regularly exceeding spot by 7x–16x.

That shift has brought more sophisticated hedging, better collateral practices, and a more mature, if less frenetic, market structure.

France-based Flowdesk, a market maker and trading firm, has views that fall somewhere in between.

While noting thinning altcoin flows and flat market-making volumes, its June 19 update describes the market as “coiled,” not cracking.

Flowdesk highlights a surge in tokenized assets, such as Gold-backed XAUT (up 56% in volume), stablecoin growth, and increasing RWA activity.

To them, low volatility may simply be the calm before a directional breakout, which is not necessarily downwards.

But in the end, no one seems to hold a reliable map for what’s ahead.

Even Polymarket bettors aren’t sure as there is a near equal chance of BTC dropping to $90K in June or moving up to $115K-120K.

One thing is for sure: the tug-of-war between bullish institutional activities and waning retail demand potentially opens bitcoin up to dramatic moves on either side of the trade, which will likely dictate the market’s next chapter.

Presto Research Says Crypto Treasury Companies Have Less Risk Than You Think

A new report from Presto Research argues that Crypto Treasury Companies (CTCs), such as Strategy and Metaplanet, are not just leveraged bitcoin ETFs, but a new form of financial engineering with less risk than many investors assume.

Strategy’s latest raise, which raised nearly $1 billion via perpetual preferred shares, shows how BTC’s volatility can be used to an issuer’s advantage.

These securities, along with convertible bonds and at-the-market equity sales, allow CTCs to fund aggressive crypto accumulation without triggering margin risk.

Presto points out that Strategy’s BTC is unpledged and Metaplanet’s bonds are unsecured, meaning collateral liquidation, the primary trigger in past crypto blowups like Celsius and Three Arrows, is largely absent here. That does not eliminate risk, but it changes the nature of it.

The real challenge, Presto argues, is not crypto exposure itself but the discipline to manage dilution, cash flow, and capital timing.

Metaplanet’s “bitcoin yield” metric, which measures BTC per fully diluted share, reflects that focus on shareholder value.

As long as CTCs can manage the financial mechanics behind their accumulation strategies, they will earn NAV premiums just like high-growth companies in traditional markets. But if they miscalculate, the same tools that fuel their rise could accelerate their fall.

Semler Scientific Maps Bold Plan to Hold 105,000 BTC by 2027

Semler Scientific (Nasdaq: SMLR) has unveiled one of the most aggressive bitcoin accumulation roadmaps in corporate history, announcing plans to hold 10,000 BTC by the end of 2025, 42,000 by 2026, and a staggering 105,000 by the close of 2027.

The California-based medical device maker, which pivoted to a bitcoin treasury strategy last year, is effectively trying to increase its current bitcoin stash of 4,449 coins by more than two fold over the next 30 months.

It plans to do so using a mix of equity raises, debt financing, and operational cash flow.

There aren’t specific details of how the company plans to fund the buy. Hwever, historically Semler’s primary mechanism for acquiring bitcoin was selling new shares under its at-the-market (ATM) program, which relies on the company trading at a premium to its net asset value (NAV).

According to data from Strategy-Tracker, Semler’s mNAV currently sits at 0.859x, meaning the market values the firm’s equity lower than its BTC holdings, which could be cutting off its ability to raise accretive capital.

How this dynamic plays out, would be worth watching as the firm initiates more bitcoin buying. Even as bitcoin has surged to all-time highs above $100,000, Semler shares are down nearly 40% on the year.

Market Movements:

• BTC: Bitcoin remains stuck below $105K despite strong ETF inflows, with repeated resistance at $105,150 and signs of institutional accumulation offset by short-term bearish momentum and macro volatility.
• ETH: Ethereum found support at $2,490 after a high-volume selloff broke key levels, with the price consolidating in a tight range amid geopolitical tensions and macro uncertainty, signaling potential for a breakout if resistance at $2,510 is cleared.
• Gold: Gold hovered near $3,366 on Thursday, little changed as escalating geopolitical tensions offset pressure from the Fed’s hawkish stance, while platinum retreated after hitting a near 10-year high; U.S. markets remained closed for Juneteenth.
• Nikkei 225: Japan’s Nikkei 225 opened 0.24% higher Friday as Asia-Pacific markets mostly rose ahead of China’s loan prime rate decision and amid ongoing Israel-Iran tensions.

Elsewhere in Crypto:

What you need to know

• YouTube turned 20 recently, and it is bringing new features and some tweaks to its design on its TV app.
• YouTube TV members can experiment with building their own multiview, and this can be done with non-sports content as well.
• It is expanding its “voice reply” to comments feature to more creators across the board.
• The redesign of the YouTube app will also include a new look for its video player.

YouTube turned 20 this week and celebrating its two decade milestone, the streaming platform shared some fun facts about its inception along with latest features that are being testing and coming to users soon.

What began as a 19-second video back in 2023 has now evolved into a full-blown streaming giant, with over 20 million video uploads each day. YouTube has also become a hub for people to have conversations and comment, and react to all sorts of videos, whether they like it or not. According to the streaming platform, “in 2024, YouTube users averaged over 100 million comments on videos daily. And we discovered that last year, creators received comments from an average of 10 million viewers every day.”

That said, YouTube seems to be giving back to its avid users as well. In its blog post, YouTube said that in a few weeks, YouTube TV users can test out multiviews on their account. They can build their personalized multi-view window that showcases non-sports channels as well. Considering that YouTube is testing this feature out, YouTube says that it is starting “with a small group of popular channels and expanding in the coming months.”

For its Premium users, the streaming platform is immediately rolling out 4x playback speed on mobile devices. This was being tested out in February and has now finally landed. More creators will have the ability to voice-respond to comments on their videos.

Furthermore, users can start creating their personalized radio station with the AI-powered tool called “Ask Music”. You can speak or ask YouTube to create a playlist for you with “upbeat songs for a morning run,” “calm jazz for studying,” “80s-inspired indie,” or even something more specific to your mood. Ask Music is available on iOS and Android for all YouTube Premium and YouTube Music users.

Lastly, the YouTube TV app is getting a full redesign this summer, the blog post added.”Easier navigation, playback, quality tweaks, plus streamlined access to comments, channel info, and subscribing are heading to your screens,” YouTube stated.

The company shared a quick glimpse of what the new UI would look like, featuring video from @LoFiGirl. The controls on the new UI are more spread out when compared to the current version. The channel, description, and subscribe buttons are on the left, the play/pause and next controls are in the center, making it more accessible and prominent. While the other controls, like settings and the like/dislike toggles, remain on the left of the screen, as seen above.