BTC Liquidity Cycle, On-Chain Intelligence, Wall Street & Bitcoin | BMTV Oct. 19, 2026

Grace Remington (0:05)

Good morning, happy Monday, and welcome into BMTV. I'm Grace Remington with Sean Hagan. Well, it is the 39th anniversary of Black Monday. And in a rare coincidence, a lot of people thought we'd see a lot of the same thing happening today with the tech sell-off that we saw heading into the weekend. But early signs in the futures markets pointing to a rebound. And so far today, that's what we're seeing as well.

Sean Hagan (0:26)

Absolutely. I had to bring out the black coat today for the infamous Black Monday. A lot of the do-mers online were calling for the demise of the markets today on this glorious, infamous anniversary. But few people point out the positive spin on it, which is the markets actually closed that year up 2% on the year. So it gets this big, scary name, but it's kind of a dip for ants, especially if you're a Bitcoiner.

Grace Remington (0:54)

All right, yeah, a lot to get into today. We're going to be diving way more into that tech selloff. But here's who's joining us on today's show. Sam Callahan, Director of Bitcoin Strategy at OranjeBTC, Michael Howell, MD at GL Indexes and Cross Border Capital, and our very own Isaiah Austin, BTC Inc. Social Markets Correspondent. But let's begin with today's headlines. The euro was down in pre-market trading as high energy prices and weekend rioting in France added to concerns about the country's political stability. European natural gas prices hit a four-year high, while analysts warned that French political tensions could put more pressure on the euro if they hurt confidence across the region.

Indonesian stocks fell more than 5% today after plunging nearly 12% Friday as MSCI considers downgrading the country from emerging market to stand-alone status.

The rapaya hovered near a record low and government bonds also sold off with Jakarta officials set to meet with MSCI later today. JP Morgan says it has invested $5 billion in equity in industries critical to US economic and national security, including domestic manufacturing, energy infrastructure and supply chain resilience. The bank also reports about $230 billion in financing under its Security and Resiliency Initiative, part of a 10-year $1.5 trillion commitment.

Russian President Vladimir Putin has proposed meeting with President Trump and Chinese leader Xi Jinping next month to discuss ending the war in Ukraine, according to the Wall Street Journal. The proposed summit would exclude Ukrainian President Zelensky and a US senior official, says Trump has not agreed to attend. German savings banks are beginning to offer Bitcoin trading through their existing banking app, with the first customers getting access today. The German Savings Bank Association told DPA that the rollout will start at participating banks with another 30-40 expected to join each month.

And Strategy says it has acquired another 267 Bitcoin, bringing its holdings to 848,517, while also repurchasing $193 million of stretch-preferred stock. Strive bought 1,223 Bitcoin at an average cost just under $82,000 each, increasing its total holdings to 36,818 Bitcoin. And with that, let's go to the markets and take a live look. Bitcoin trading just over $82,000 today, up 0.8% of a percentage point on the day. On Wall Street, SPY and QQQ are pointing higher in trading. The SPY up a half a percentage point, Triple Q up almost 1.5%. And that's after the S&P and Nasdaq suffered their worst weekly losses since late June, as concerns over the cost of AI infrastructure weighed on the market. Over in the bond market, Treasury yields are moving lower. The 10-year yield now down to 5.08%. The 30-year at 5.42%. We're also watching the short end of that curve, the three-month at 417 and the five-year at 489 Gold also edging higher after the weekend, trading around $4,170 an ounce. Finally, oil moving higher. Brent above $108 a barrel today, and WTI crude also above $100 a barrel. Sean, anything stating out to you this morning?

Sean Hagan (4:47)

Yeah. It's good to see the markets are getting a bounce here. It's good to see Bitcoin showing some strength. We got awfully close to that 80K level over the weekend. But as futures opened up, yesterday we started to see some strength pile back in. So we're wanting to see a continuation this week with Bitcoin. We've been chopping sideways for quite some time now.

It looks like we're building this nice base for a solid move. I'd like to see the direction of that move to be up.

Grace Remington (5:19)

Well, you mentioned the bounce. Let's go a little bit deeper into the equities markets now and take a look at the MAG7 after a rough week for Big Tech. Nasdaq lost 4.5% last week. It's worst weekly performance since June, while the S&P fell almost 2%.