Global Macro, Open Source AI, Bitcoin ETFS | BMTV Sep. 17, 2026

Grace Remington (0:00)

Good Thursday morning and welcome into BMTV. I'm Grace Remington alongside Sean Hagan, the Fed raising interest rates by 25 basis points yesterday, the first hike since 2023

What's that mean for Bitcoin and the rest of the markets? We are breaking it all down today on the show. Sean, how are you feeling?

Sean Hagan (0:17)

I'm feeling good today. We have a great lineup. It's day four of BMTV and we just keep accelerating.

Grace Remington (0:23)

We really do. And I know we say, or every day I've said, hey, we got a packed house. Today, we really have a full house. Here's who we have coming up on the show today. Ric Edelman, founder of Edelman Financial Services, Zack Shapiro, head of policy at Bitcoin Policy Instate Hike Decision on its own. I think the Fed was backed into a corner.

And with a 90 percent probability of a hike, it had to deliver or lose credibility. It was put up or shut up. Unfortunately, the Fed didn't put up enough.

Sean Hagan (0:53)

Yeah. I'm excited to have Jim Bianco, who we mentioned right there, joining us on the show shortly.

That will be an exciting chat as well. And yes, I think Schiff is largely right. Look, we saw the market participants largely price this in. Warsh has been talking a big game over the past meetings. And so he did kind of have, this was kind of the moment of truth, right? He had to kind of put his money where his mouth is. So, you know, like I said yesterday, I think, you know, Schiff's right about a lot of things. The one thing he gets wrong is Bitcoin.

Grace Remington (1:21)

That's true. Yeah. We definitely need to see part two of that debate. We need to bring them back.

Sean Hagan (1:27)

Absolutely. It's always fun to talk with him.

Grace Remington (1:29)

All right. We're taking a quick break here. But coming up next, it's the question that many of you are probably wondering, how does the rate height impact Bitcoin? Well, in Sean's upcoming chart of the day, he did some pretty cool research. We're going to break it down for you. This is BMTV.

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Grace Remington (4:04)

Welcome back in. Well, the price of Bitcoin now up 1% on the day, sitting at $76,499.

But yesterday, after the Fed announced its rate decisions, relatively flat since then. And so what everyone wants to know, though, is what is the relationship between Bitcoin and Fed cuts, holds, or hikes? And Sean, you did some really interesting research on this. So let's look at it in chart of the day.

Sean Hagan (4:30)

Absolutely. It's time for chart of the day. And today we're looking at a 3D Fed funding rate and a Bitcoin sensitivity visualizer that I was able to cook up with my buddy Claude. So, you know, what this is really giving us a look at to interpret what you see on your screen as this loops is it's about 13 and a half years of data. Up and down is the Bitcoin price, left to right is the time scale, and front to back is the Fed funds rate.