BTC Q4 Signals, Wall Street Macro, Energy Markets | BMTV Oct. 07, 2026

Grace Remington (0:06)

Good morning, and happy Wednesday. Welcome in to BMTV. I'm Grace Remington with Sean Hagan. Full House again today. Here's who we got coming up on the show. James Van Straten, Senior Analyst at CoinDesk, Josh Young, the CIO and Founder of Bison Interest, Sean Owen, CEO of SALT Lending, Frank Corva, friend of the program, content producer now at Feddy, and Vincent Deluard, Director of Global Macro at StoneX. Sean, how are you doing today?

Sean Hagan (0:32)

I'm doing great today. I feel spry and well-rested, just like Bitcoin taking a bit of a rest here at these price levels, and excited to wake up with some energy and momentum, and hopefully Bitcoin is going to follow.

Grace Remington (0:45)

Yeah. I was wondering where you were going with spry. I wouldn't mind Bitcoin going that way. But with that, let's take a look. Let's start with our headlines actually. Let's get to the Bitcoin price in a moment. Russia's largest bank, Spurbank, has received central bank approval to offer digital asset custody services, starting with Bitcoin. The bank is targeting December 1st for its rollout, with the launch dependent on implementing regulations taking effect. First National Bank, part of South Africa's biggest financial services group, plans to let customers invest in Bitcoin and other crypto assets through its shared trading platform. FNB is partnered with crypto provider Valor to offer access to Bitcoin, USDT and other cryptocurrencies. The move comes as many South African lenders have avoided serving crypto platforms over risk and regulatory concerns. Black Rocks J. Jacob says the floodgates have opened for investors looking to move their Bitcoin into iBit after the asset manager reduced the minimum for in-kind transfers to about $2 million. He told Bloomberg that holders are reaching out to outsource custody and explore income strategies, hedging and borrowing against their positions. Hong Kong plans to introduce legislation this year to establish a licensing system covering crypto trading, custody, advisory, and management services. The city's financial services and Treasury secretary outlined the plan at a legislative council briefing. The proposal would extend oversight across how investors buy, hold, and manage digital assets. Robinhood has added approximately $25 million worth of Bitcoin to its corporate balance sheet, according to crypto executive Johan Kerbratt. Speaking at the Digital Asset Summit in Asia, Kerbratt said the purchase reflects the company's commitment to Bitcoin and its ecosystem, while acknowledging the position is small relative to Robinhood's size.

Bitcoin wallets linked to the US government moved about 834 Bitcoin on Tuesday, worth roughly $71.6 million. Intelligence company Arkham revealed the coins passed through two intermediate addresses before reaching addresses that Arkham labels as Coinbase Prime Deposits. No sale has been confirmed and moving Bitcoin to an exchange does not by itself establish that it was sold.

So with that, let's go to the markets now. Bitcoin, as Sean mentioned, feeling the pressure today, falling below $84,000 this morning after trading above $86K yesterday, the price is now at $83,455.

The S&P 500 and Nasdaq both closing at all-time highs yesterday. Futures just a little bit lower this morning, but still in the green for the SPY at $779.09. That's up a tenth of a percentage point. The triple Q is down a tenth of a percentage point. Treasury yields back on the rise. The 10-year now sitting above 5.3%.

That's up two basis points on the day in the 30-year. Hanging out around 5.7, up three basis points on the day, its highest level since 2002 And gold, lower today as well, down about 1.5%, sitting just over $4,000 per ounce. And oil, once again, in focus. Brent trading above $100 a barrel. WTI, also above $90 now with renewed supply concerns in the Middle East, Sean.

Sean Hagan (4:11)

Yeah, look, I mean, Bitcoin's price is down today.

I'm not an alarmist. I don't intend to become a panic hand here at these price levels. You know, the 50-week moving average, which we want to see used as support should we go down further, is still in the high 70s.

So not in the slightest bit concerned, unless we were to, you know, poach those levels and kind of go down beyond that, which I just don't see happening. In fact, I think you could even flip it into a bullish framing if we were to use it as support. Let's not get overexcited. I know we all want to go straight up to new all-time highs tomorrow. But you know, I would say let's turn our attention to the fact that the market has been behaving in a much more bullish manner. Things that used to send the price tumbling are sending the price up. We're showing a lot of strength. We still haven't even gone down and properly retested that support level, which used to be resistance, which is the 50-week moving average. And up at these levels, it's still looking incredibly strong. So I'm not too concerned about it. There were some big sell orders this morning during a time of the day when the order books are the most thin. Obviously, people are also concerned about that US government move. But like you said, that doesn't necessarily mean anything's being sold. In fact, Coinbase is also a large custody partner for a lot of institutions.