Bitcoin and Gold Collapsed to 2026 Asset Bottoms
Key Summary
Bitcoin and gold became the two worst-performing major asset classes of 2026, marking an unprecedented simultaneous drop in data dating back to 2011. Charlie Bilello data showed gold down 10% and Bitcoin falling over 11% following oil price spikes and tighter Federal Reserve expectations.
Key Bullets
- Data compiled by Creative Planning Chief Market Strategist Charlie Bilello showed Bitcoin down over 11% and gold down 10% year-to-date.
- Gold retreated from an intraday ATH of $5,500 per ounce in late January 2026 to hover just above $4,000/oz.
- Bitcoin tumbled 35% from its peak of $126,000 down to $80,000 following a rejection at $87,000.
- ING reported that bullion failed to benefit from lower Treasury yields as investors panicked over expensive energy inflation.
Derivatives Liquidate As Assets Tank
Bitcoin slumped to $80,000 on Thursday morning after derivative traders faced aggressive liquidations across major spot exchanges. Data compiled by Creative Planning Chief Market Strategist Charlie Bilello showed that Bitcoin shed over 11% year-to-date while gold dropped 10%.
This performance places the two traditional safe havens firmly at the bottom of the 21 major asset classes tracked in the annual rankings. Commodities gained over 50% over the same period. US large-cap stocks added more than 12%. Short-term Treasury bills returned nearly 3%. The shift erased billions in market capitalization overnight. Liquidity vanished from order books.
Monetary Policy Crushes Debasement Hedges
Surging oil prices and renewed expectations for tighter monetary policy undermined two assets that previously benefited from concerns over debt, deficits, and currency debasement. ING noted that bullion failed to benefit from falling equities or lower Treasury yields during the sell-off.
Traders pivoted aggressively toward cash equivalents as cash yields climbed. Higher interest rates punish non-yielding assets. Capital fled the sector rapidly. The reversal hit gold especially hard after it surged to an ATH of $5,500 per ounce in late January 2026. The metal dipped below $4,000/oz at the start of the week. Prices barely held that floor.
Bitcoin Fails To Hold Rebound
Bitcoin slumped from its 2025 ATH of $126,000 down to under $58,000 in early July before staging a notable comeback toward $87,000. Public on-chain order flow metrics confirmed a sharp rejection at that resistance level. Prices dropped back to $80,000 immediately.
The cryptocurrency now faces the distinct possibility of posting a second consecutive negative calendar year if macroeconomic pressures persist. Long-term historical data compiled by Creative Planning still show BTC returning roughly 120.6% annualized since 2011. Short-term relief remains entirely absent from the tape. Traders took immediate notice.
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