BTC Price Action, ETF Flows, Rate Path | BMTV Sep. 22, 2026

Grace Remington (0:00)

Happy Tuesday, and good morning. Welcome in to BMTV. I'm Grace Remington with Sean Hagan. Oil is resetting this week as optimism grows around the conflict with Iran. But diesel telling a different story, the pressure point in the global energy market. We're going to break that down and so much more. But in the meantime, Bitcoin keeps doing its thing.

Sean Hagan (0:19)

Bitcoin keeps being Bitcoin. We're not surprised about that. I checked the price chart this morning, and it turns out one Bitcoin equals one Bitcoin.

Grace Remington (0:26)

There we go.

Lots of great guests coming up on the show today. We have Kristin Smith, President of the Solana Policy Institute, Dave Weisberger, co-founder and strategic advisor of CoinRoutes, Daniel Hinton from our very own UTXO, in-house head of capital markets there, Mitchell Askew of Blockware, and Shinobi, technical editor at Bitcoin Magazine. So lots to look forward to, but let's start as usual with the headlines. Saudi Arabia has restarted operations at its east-west oil pipeline and could resume crude exports from the Red Sea port of Yanbu as soon as Tuesday, according to three sources cited by Reuters. Two sources said the pipeline was currently pumping at a low rate. The restart could help ease pressure on global oil supplies, though the pipeline is not yet back to full capacity. Oil prices are falling, as reports that Iran could reopen the Strait of Hormuz within seven days. Raising hopes of a recovery in global oil supplies, Brent Crute fell around 2% to below $100 a barrel, adding to another roughly 3% drop on Monday as diplomatic activity between the US and Iran intensified. However, Iranian sources have disputed the reports, calling them inaccurate, leaving the outlook for Hormuz shipping uncertain. The US national average for diesel has hit a record $6.53 per gallon, according to AAA, surpassing the previous all-time high of 640 that was hit last Thursday. The supply crunch has pushed US refineries to high operating rates, but diesel stockpiles remain below seasonal averages, adding pressure to freight, agriculture and other diesel-dependent industries. President Donald Trump is set to meet with the leaders of Denmark and Greenland at the United Nations on Tuesday to sign a new security agreement that would expand the US military presence on the strategic Arctic island. The deal is expected to allow the US to establish two additional military sites.

Russian Prime Minister Mikhail Mishustin says cryptocurrency circulation has become legal in the country as of September 1st, following the signing of digital asset legislation in August. The law establishes rules for crypto exchanges, digital depositories and other market participants while setting conditions for investors to buy digital currencies such as Bitcoin. Spot Bitcoin ETFs in the US attracted nearly $1 billion in net inflows on Monday, their largest single-day inflow since October 2025

The $999.95 million inflow also marked the 9th largest since the ETFs launched in January 2024 as Bitcoin rallied to its highest level since January. So with that, let's take a look at the markets today. Bitcoin sitting at $85,988 hit a high of $87,265 yesterday around 3.3 or 4.3 Eastern time up 12% on the week. Taking a look at the stock market now, SPY up a 10th of a percentage point sitting at $774.58 QQQ up 3 10ths of a percentage point this morning at $744.19. Gold down 3 10ths of a percentage point sitting at $4,369 per ounce. Brent crude, obviously, oil is the story of the week. Oil under $100 a barrel sitting at $9906 while the WTI is at $9,432. What's standing out to you so far, Sean?

Sean Hagan (3:52)

Well, it's interesting to see how quickly oil has come down, right? And that's been the story and a large thread through the narratives we've been covering over the past week or so here on the show.

So that's interesting to see the oil price coming down so quickly. And it'll be interesting to see if other items downstream, like US. Treasuries, are going to follow as that pressure gets alleviated. Also thrilled to see Bitcoin holding in at these levels. We'll talk about some of these key price levels here in a bit for chart of the day. But very encouraging to see how well we've been holding up at these ranges.

Grace Remington (4:26)

Lots of interesting market movement this week. We're going to dive into it all later up, later coming up on the show. But for now, let's welcome in our first guest of the day, Kristin Smith, President of the Solana Policy Institute. Good morning, Kristin, and thanks for joining us. So the Clarity Act failed to advance in Senate last week. That's kind of the big topic of discussion. But what actually happened inside Washington from your perspective? And what do you think people in the crypto industry are missing about why this bill stalled?