These Outlets Shaped Bitcoin’s Narrative in May.
I built Perception because I was tired of guessing how Bitcoin was being framed — and by who. Every month, we scan 200+ outlets and surface the narratives that actually move markets.
Not just volume. Not just headlines. Actual sentiment. Real tone. Strategic insight.
This month’s report only includes outlets that mentioned Bitcoin at least 10 times.
That means no New York Times, FT, or WSJ.
They didn’t show up enough to matter.
And that’s the whole point: frequency equals influence.
By the way: if you haven’t been in the app lately, we’ve rolled out a ton of new features:
→ Real-time trend discovery (you can actually see what pocket of the Internet caught a trend first)
→ Channel-level sentiment dashboards
→ Daily alerts straight to Slack
If this report saves you even five minutes, imagine what the full platform can do.
👉 Jump into the app — see the signal for yourself.
Brought to you in partnership with Bitcoin News
Key Narrative Trends & Strategic Takeaways
1. Media Fragmentation Is Now a Feature, Not a Bug
Mainstream coverage is diverging. CNBC and Forbes position Bitcoin as financial infrastructure. NBC News and The Guardian still treat it as a systemic risk.
→ Narratives now reflect the outlet’s audience — not objective consensus.
2. Crime & Cybersecurity Remain Anchors of Fear
Outlets with high negative sentiment nearly always focus on legal action, hacks, or scams.
→ These tropes dominate bearish coverage and won’t disappear without active narrative pressure.
3. Institutional Coverage Drives Bullish Sentiment
Positive tone correlated with topics like ETFs, VC inflows, and sovereign strategies.
→ Bitcoin is increasingly framed as a capital allocation tool, not protest tech.
4. Volume Is Influence
This report is based on outlets that published 10+ Bitcoin mentions — because frequency is power.
→ Narrative dominance requires repetition, not prestige.
🟢 Most Bullish Outlets
These outlets consistently portrayed Bitcoin in a constructive, forward-looking light.
🥇 CNBC
Positive: 57.5% — Negative: 10.0% — Neutral: 32.5%
Narrative: Market momentum, institutional use, and tech optimism.
Topics: Market analysis (72.2% positive), investment vehicles, banking.
🥈 Forbes
Positive: 55.7% — Negative: 18.0% — Neutral: 26.2%
Narrative: Bitcoin as asset class. Frequent intersections with AI and long-term macro.
Topics: Market analysis (85.7% positive), investment strategies, tech finance.
🥉 Fox News
Positive: 35.7% — Negative: 35.7% — Neutral: 28.6%
Narrative: Sovereignty, anti-establishment, price bullishness.
Topics: Banking (66.7% positive), market analysis (100% positive), crime/cyber concerns.
CBS News
Positive: 25.0% — Negative: 16.7% — Neutral: 58.3%
Narrative: Balanced, with bright spots on institutional adoption.
Topics: Institutional adoption (100% positive), banking, mining.
Fortune
Positive: 25.0% — Negative: 9.4% — Neutral: 65.6%
Narrative: Quietly bullish, especially on mining and fintech rails.
Topics: Banking (50% positive), mining (100% positive), treasury strategy.
Brought to you in partnership with Bitcoin News
🔴 Most Bearish Outlets
These outlets framed Bitcoin through the lens of crime, risk, or systemic instability.
🥇 New York Post
Positive: 16.7% — Negative: 72.2% — Neutral: 11.1%
Narrative: Crime-dominant. No institutional or technical framing.
Topics: Crime/legal (100% negative), finance (66.7% negative).
🥈 The Guardian
Positive: 15.4% — Negative: 61.5% — Neutral: 23.1%
Narrative: Bitcoin as speculative, extractive, or ecologically harmful.
Topics: Mining (100% negative), investment vehicles (60% negative), crime.
🥉 NBC News
Positive: 15.4% — Negative: 38.5% — Neutral: 46.2%
Narrative: Bitcoin as institutional risk and cybersecurity threat.
Topics: Banking (100% negative), crime/legal (100% negative), cybersecurity.
The Independent
Positive: 28.6% — Negative: 52.4% — Neutral: 19.0%
Narrative: Mixed, but tilted bearish via fear-based framing.
Topics: Cybersecurity and crime/legal (100% negative), investment (83.3% negative).
Bloomberg
Positive: 25.0% — Negative: 33.3% — Neutral: 41.7%
Narrative: Balanced, but persistent skepticism around legal and regulatory implications.
Topics: Market analysis (50% positive), crime/legal (100% negative).
📊 Sentiment Summary Table
|
Outlet |
🟩 Positive |
⚪ Neutral |
🟥 Negative |
|---|---|---|---|
|
CNBC |
57.5% |
32.5% |
10.0% |
|
Forbes |
55.7% |
26.2% |
18.0% |
|
Fox News |
35.7% |
28.6% |
35.7% |
|
CBS News |
25.0% |
58.3% |
16.7% |
|
Fortune |
25.0% |
65.6% |
9.4% |
|
New York Post |
16.7% |
11.1% |
72.2% |
|
The Guardian |
15.4% |
23.1% |
61.5% |
|
NBC News |
15.4% |
46.2% |
38.5% |
|
The Independent |
28.6% |
19.0% |
52.4% |
|
Bloomberg |
25.0% |
41.7% |
33.3% |
Why This Report Matters
Narrative is upstream of capital flow.
Whether you’re a fund manager, comms lead, or founder — knowing who is framing Bitcoin, how often, and with what tone is the key to strategic clarity.
Perception is your edge in that landscape — surfacing real-time media sentiment, narrative shifts, and outlet credibility at scale.
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