Michael Howell calls Bitcoin the most liquidity-sensitive asset, sees support at $70K

CrossBorder Capital's Michael Howell makes the case for Bitcoin in a liquidity-driven market

Michael Howell, of CrossBorder Capital, says global liquidity is the main force behind market moves and describes Bitcoin as the most liquidity-sensitive asset on the planet. He made the comments in a Bitcoin Magazine video published on October 20, 2026.

Howell argues that Bitcoin is emerging as the leading asset, or "apex" asset, in a world where currencies are losing value. The video's own summary frames the discussion around what it calls a "debasement world."

In the same discussion, Howell said investors who want protection against monetary inflation should hold both gold and Bitcoin, rather than choosing between them.

Key points from the interview

• Howell describes Bitcoin as "the most liquidity sensitive asset on the planet by far."
• He suggests holding a basket of assets weighted by volatility. In that basket, Bitcoin's share would grow as the asset becomes more institutional, and could possibly reach 50/50 with gold at some point.
• He names $70,000 as a key support level for Bitcoin.
• He says a Federal Reserve under Kevin Warsh may keep liquidity from falling sharply.

Liquidity, debt and government money printing in Howell's view

The video's chapter list points to a series of arguments Howell makes. They include what the listing calls a "gangbusters" economy with rising bond yields, and the idea that the AI trade and the real economy are pulling money away from markets.

According to the listed topics, Howell also discusses what a flattening yield curve says about the liquidity cycle, a debt maturity wall, and a shift he describes as moving from central bank money creation, known as quantitative easing, to similar action by treasuries. He also covers China's bond market and the yuan, argues that governments are unlikely to cut spending, and compares Bitcoin with equities during periods of debt monetization.

Monetization, in this context, means a government financing its debt by creating money. Bitcoin and gold are often discussed as assets that may hold value when the supply of a currency grows.

What is confirmed and what is not

What is confirmed is that Bitcoin Magazine published the video on October 20, 2026, that it was produced by Patrick Green, and that it carries the views of Michael Howell of CrossBorder Capital. The quotes and positions above come from Bitcoin Magazine's own summary of the video.

What is not established by the supplied material is whether Howell's expectations will prove correct. His views on liquidity, on a possible 50/50 split between Bitcoin and gold, on $70,000 as support, and on the Fed under Kevin Warsh are opinions and forecasts, not confirmed outcomes. The material does not answer when, or whether, any of them will happen.

Why the discussion is drawing attention

Howell's comments tie Bitcoin's price behavior to the amount of money circulating in the global financial system rather than to Bitcoin-specific news. Under that view, changes in liquidity from central banks and governments matter more for Bitcoin than for most other assets.

The video also touches a practical question for investors: how to divide holdings between gold and Bitcoin if the goal is protection against currency debasement. Howell's answer is a mix of both, with Bitcoin's weight rising if it becomes more widely held by institutions.

Disclaimer attached to the video

Bitcoin Magazine states that the views in the show belong to the participants and do not necessarily reflect the policy or position of BTC Inc., Bitcoin Magazine, or affiliated entities. It says the content is for information and education only, is not investment, legal, tax or accounting advice, and is not an offer or recommendation to buy or sell any financial instrument.

Sources

• Bitcoin Magazine

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