Why Bitcoin Is The Only Major Asset Underperforming Despite Strong Fundamentals

In the monetary panorama, Bitcoin stands out as one of many few main belongings which have didn’t maintain tempo with broader market positive aspects. This underperformance comes regardless of sturdy underlying fundamentals, the place its worth is being ruled by the mechanics of hedging and artificial leverage quite than the conviction of its holders. Network safety stays sturdy, long-term holders proceed to dominate provide, and institutional entry has by no means been broader. 

How This Cycle Looks Different For Bitcoin

There’s no satisfying rationalization for one of many strangest market outcomes of the 12 months. An entrepreneur, Bitcoin investor, and founding father of Wealth Mastery, Lark Davis, has mentioned on X that Bitcoin is the one asset underperforming, whereas gold and shares are printing all-time highs, and 2025 was presupposed to be the golden second for BTC.

Davis highlighted that in 2025, the United States had a pro-BTC administration for the primary time in historical past, and there was demand for the cryptocurrency and peak adoption from establishments and nation-states. Macro situations turned supportive, and Wall Street has successfully rolled out the purple carpet for BTC.

At the identical time, Michael Saylor’s Strategy bought a BTC provide larger than the typical every day manufacturing of miners. Despite all this bullishness, BTC  continues to be down 6% from its yearly open and nonetheless round 30% beneath its all-time high. Meanwhile, the remainder of the crypto appears to be like worse as altcoins have been crushed, with many down 80% to 90% during the last two years.

The 2026 Bitcoin chart will probably be a very powerful to observe. A full-time crypto dealer and investor, Daan Crypto Trades, highlighted that Global liquidity is the metric to observe for BTC’s long-term efficiency. It’s not a holy grail that works each single day, however there are shorter-term deviations proper now.

When overlaying international liquidity progress with long-term worth efficiency, it reveals that the peaks and troughs align with exceptional accuracy. Daan believes that this BTC setup is extra vital than a fee reduce, and the general inventory market efficiency will reveal a great sign.

Whale Accumulation While The Market Hesitates

While concern dominates throughout the market, a whale has been quietly shopping for BTC since yesterday. Crypto educator Wilberforce Theophilus revealed that over the previous 24 hours, greater than 2,509.2 BTC, which is roughly $221 million value of BTC, has been collected. 

According to Wilberforce, December 2020 was objectively worse than as we speak, however in January 2021, BTC was $1 after which rallied to $19,000. December 2025 doesn’t stand out as extraordinarily bearish when considered by way of a long-term lens. “I’ve only one piece of recommendation: HODL and WAIT,” the skilled famous.