Bitcoin and gold have emerged as the two worst-performing major assets of 2026 so far, according to Creative Planning strategist Charlie Bilello. Bitcoin has fallen 7.3% year-to-date, while gold has dropped 7.5%, placing both at the bottom of Bilello’s 21-asset-class ranking tracked since 2011. By comparison, a broad commodities basket has surged 52.5%, large US stocks have gained 12.3%, and short-term Treasury bills have returned 2.9%.
The pressure on both non-yielding assets has been amplified by macro forces. Brent crude reached $116 per barrel as US-Iran tensions escalated, raising inflation concerns. With the Federal Reserve’s October 27–28 FOMC meeting approaching, markets expect rates to stay unchanged for now, but CME FedWatch estimates put the probability of a December hike at 68% to 79%. ING analysts said gold could not benefit even from a tech-stock selloff because the market is focused on what higher oil prices could mean for inflation. Spot gold slipped below $4,000 for the first time since July, reaching $3,995.81 on Friday before a modest Monday rebound to $4,008.70.
Bitcoin is trading around $80,472, about 35% below its record above $126,000 from October 2025. If losses hold, 2026 would be Bitcoin’s second consecutive negative year after a 6.3% decline in 2025. Despite that, Bilello’s data shows Bitcoin has returned an average of 120.6% per year since 2011, compared with 6.3% for gold. Galaxy Research head Alex Thorn noted that 11.1 million BTC, roughly 55% of total supply, remains in unattributed addresses, highlighting that most bitcoin may still be held in self-custody. With about two months left in 2026, the final annual performance rankings remain unsettled.
