Bitcoin and Gold Are 2026's Worst Major Assets, a Historic First
As seen on the 24/7 Wall St. homepage on November 7, 2026.
The two assets investors buy for protection are the year's biggest losers, a first in any calendar year, so portfolios built on that hedge are carrying risk they were not priced for.
Bitcoin (-13%) and Gold (-6%) are the two worst performing major assets so far in 2026. This is something we haven't seen before in any calendar year. https://t.co/l5IYmkf6Ih https://t.co/zVB5NUWaUd
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Bitcoin is down 13% on the year, and gold is falling alongside it, making them the two worst performing major assets of 2026 so far. According to market analyst Charlie Bilello, that combination has never appeared in any prior calendar year.
The pairing matters because both assets are widely held as portfolio protection. When the hedges themselves lead the losses, the diversification logic that underpinned those positions is not working the way investors expected.
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Portfolios built around a Bitcoin-and-gold hedge are carrying risk that was not priced in at the start of the year. The simultaneous drawdown leaves those investors without the cushion they assumed they had, at exactly the moment a cushion would be most useful.
Both assets fell together in 2026, and that joint underperformance raises real questions about whether the traditional safe-haven narrative for either one still holds in the current environment.