Gold and Bitcoin Are Now 2026’s Worst Major Assets: What Went Wrong?

Gold and Bitcoin were the two weakest among 21 major asset classes in Charlie Bilello’s 2026 rankings through October 23, the first simultaneous bottom-two placing in data back to 2011. The Creative Planning chief market strategist recorded gold down 7.5% and Bitcoin down 7.3% year to date; further declines left their losses at 10% and over 11%. Both had rallied on debt, deficit and currency-debasement concerns, but higher oil prices and renewed expectations of tighter monetary policy reversed that trade. Gold rose 64% in 2025 and hit $5,500 an ounce intraday in late January 2026 before slipping below $4,000, while Bitcoin fell from $126,000 to under $58,000 in early July and later traded near $80,000.