Bitcoin Down 7.3%, Gold 7.5%: Both Rank Last in 2026 Asset Table

Bitcoin and gold sat at the bottom of the 2026 major-asset performance table as of Oct. 23, with the cryptocurrency down 7.3% year-to-date and the metal down 7.5%, according to a ranking Creative Planning chief market strategist Charlie Bilello published on X. Both trailed stocks, bonds and cash, Finbold reported. Bilello said the pairing had not occurred in any prior calendar year in his comparison.

The two assets have ended a year lower together before — in 2014, 2018 and 2022 — but never at the very bottom of the chart. In those years Bitcoin’s losses were far heavier than gold’s: 58%, 73% and 65% respectively, Finbold reported.

Key facts

• Bitcoin was down 7.3% year-to-date and gold 7.5% as of Friday, Oct. 23, per Bilello’s table.
• Bitcoin traded near $80,155 at press time, roughly 36% below the all-time high above $125,000 it set late in 2025.
• Gold peaked near $5,400 early in 2026 and had fallen to a support level around $4,000 by late October.
• Bilello puts Bitcoin’s annualized return at about 120.6% since 2011, against roughly 6.3% for gold over the same span, U.today reported.
• About 92% of GDX gold miner constituents were below their 50-day moving average, up 80% in 21 sessions, according to The Kobeissi Letter as cited by News.bitcoin.

Bitcoin’s slide from a 2025 record

Bitcoin’s 2026 weakness followed a record high above $125,000 late in 2025 and a subsequent downtrend that carried it to about $80,155 by press time on Monday, Oct. 26. Early-year forecasts had projected a bottom in early October; instead the asset rallied late in August and later dropped toward $80,000 on the possibility that the Iran War would resume in earnest, according to Finbold. News.bitcoin quoted the price at $80,190 with a 0.43% daily decline in its Oct. 26 market update — a minor difference from Finbold’s snapshot.

The long-run contrast is stark. U.today reported that Bitcoin’s 120.6% annualized return since 2011 dwarfs gold’s 6.3%. Bitcoin was the best-performing major asset in 2024 with a 121% gain, and gold took the top spot in 2025 with a 63.7% rise, per U.today — the year before both fell to the bottom.

Why gold joined the decline

Gold’s reversal came after a near-continuous climb from 2023 into early 2026. Finbold attributed the slide to several forces: persistently high inflation and bond-market turmoil raised the opportunity cost of holding a non-yielding asset; a stronger dollar index, up 3.84% year-to-date, made the metal dearer for overseas buyers; and stock volatility — driven by oil-market disruption from the Iran War and shifting AI narratives — pushed leveraged traders to sell liquid holdings to meet margin calls. On gold equities, News.bitcoin reported that about 90% of GDX constituents were below their 200-day moving average, the highest share in three months. Comparable conditions in March and December 2024 preceded one-month rallies of 21.5% and 15.4% in the ETF, News.bitcoin noted, adding that history does not guarantee a repeat.

Why it matters

Bitcoin and gold are commonly pitched as hedges — one against monetary debasement, the other as “digital gold” — yet in 2026 both lost ground while conventional assets gained, weakening that pitch for the year. The weak reading is a sharp change from 2024 and 2025, when each asset led the table in turn. For portfolio managers who hold both as diversifiers, the joint drawdown offers little offset. A rebound in either would reopen the gap between Bitcoin’s risk profile and gold’s defensive role, News.bitcoin noted.

What to watch

More than two months remain in 2026, and the final ranking will hinge on whether either asset can recover from here. Finbold noted that by press time on Oct. 26 Bitcoin’s position had worsened slightly while gold’s had improved marginally. Investors will also watch whether gold miners extend their historical rebound pattern or confirm a deeper selloff.

This article is not financial advice. Cryptocurrency and commodity markets are volatile and uncertain, and past performance does not indicate future results.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: Finbold, U.today, News.bitcoin