Bitcoin and Gold Hit a Historic First in 2026. The Two “Safe Havens” Are Now the Worst Assets
Bitcoin (BTC) and gold are the two worst-performing major assets of 2026, down 7.3% and 7.5%, according to Creative Planning strategist Charlie Bilello. He says no calendar year in his records has put the pair last together.
Investors buy both as protection against inflation and market stress. Yet this year, a basket of commodities gained 52.5%, US large-cap stocks rose 12.3%, and short-term Treasury bills returned 2.9%.
How Far Bitcoin and Gold Have Fallen in 2026
Bilello‘s table ranks 21 asset classes every year since 2011, using data through October 23. Only 57% of them are positive in 2026.
Gold’s slide follows a 63.7% gain in 2025, its best year in the table. Spot gold climbed above $5,400 an ounce in early 2026. On Friday, it closed at $3,995.81, after gold fell below $4,000 for the first time since July.
Bitcoin, meanwhile, is heading for a second losing year after a 6.3% drop in 2025. It trades at $80,472, according to BeInCrypto’s Bitcoin price data. That is about 35% below its peak above $126,000 last October.
Why Oil Prices and the Fed Are Hurting Both
Neither gold nor Bitcoin pays interest. When interest rates rise, holding them means giving up income that bonds or cash would earn.
Brent crude, the global oil benchmark, touched $116 a barrel on Friday as US-Iran tensions escalated. Costlier oil feeds inflation, which can push the Federal Reserve (Fed) to raise rates.
The Fed announces its next decision on Wednesday. However, traders already price a 68% chance of a December hike, CME FedWatch data shows, ahead of a busy Fed week.
ING analysts said gold failed to benefit from a tech stock selloff this week. Instead, they said the market
“…appears more focused on higher oil prices and what it could mean for inflation.”
Over the long run, Bilello’s figures tell a different story. Since 2011, Bitcoin has returned 120.6% a year on average, the highest in his table, while gold has returned 6.3%.
Bitcoin (-7.3%) and Gold (-7.5%) are the two worst performing major assets so far in 2026. This is something we haven't seen before in any calendar year. pic.twitter.com/MkJ1Phtndl
— Charlie Bilello (@charliebilello) October 25, 2026
With two months left, the year-end ranking can still change.
Disclaimer: The content presented above, whether from a third party or not, is considered as general advice only. CFD trading involves significant risk of loss. Past performance does not guarantee future results. This article serves informational purposes only and does not constitute financial advice. Consider your risk tolerance before trading.
