Bitcoin and gold are 2026's worst-performing major asset classes, down over 10% amid rising oil prices and tighter monetary policy expectations.
Macro & Markets ·
Bitcoin and gold have emerged as the worst-performing major asset classes in 2026, each registering losses exceeding 10% and 11% respectively—a shared downturn not seen since 2011, according to CryptoPotato. Gold fell below $3,900 per ounce while Bitcoin traded around $77,000. The twin declines have unfolded amid rising oil prices and market expectations for tighter monetary policy, conditions that have coincided with strength elsewhere in commodities and U.S. equities.
The setback marks a stark reversal in longer-term performance trajectories. Bitcoin has posted an annualized return of roughly 120.6% since 2011, while gold's annualized gain over the same period stands at 6.3%. The contrast highlights how year-to-date weakness in both assets sits against their historical appreciation curves, particularly Bitcoin's more volatile but substantially higher cumulative gains.
What remains unclear is whether the 2026 underperformance reflects temporary market positioning against tighter policy or signals a more durable shift in investor demand for the two assets typically held as hedges or store-of-value plays.