In the financial landscape, Bitcoin remains one of the few major assets that has not managed to keep up with the broader market gains. This underperformance occurs even with robust underlying fundamentals, as its price is influenced more by the mechanics of hedging and synthetic leverage than by the conviction of its holders. Network security is robust, long-term holders are still in control of the supply, and institutional access has reached unprecedented levels. The market has delivered one of the most perplexing outcomes of the year, leaving many without a clear explanation. Lark Davis, an entrepreneur, Bitcoin investor, and founder of Wealth Mastery, has stated on X that Bitcoin is the only asset lagging behind, as gold and stocks are reaching all-time highs, despite 2025 being anticipated as the golden moment for BTC.
Davis emphasized that in 2025, the United States experienced a pro-BTC administration for the first time ever, leading to a surge in demand for the cryptocurrency and peak adoption from both institutions and nation-states. Macro conditions have shifted to a more favorable stance, and market has essentially laid out the red carpet for BTC. Simultaneously, Michael Saylor’s Strategy acquired a BTC supply that exceeds the average daily output of miners. In the midst of this optimism, BTC remains down 6% from its yearly open and is approximately 30% below its all-time high. Meanwhile, the broader crypto landscape appears bleak as altcoins have faced significant downturns, with many plummeting by 80% to 90% over the past two years.
The Bitcoin chart for 2026 is set to be the key focus for analysts and investors alike. Daan Crypto Trades emphasized that Global liquidity is the key metric to monitor for BTC’s long-term performance. While it may not be a guaranteed solution for daily success, current market conditions are presenting shorter-term deviations. Analyzing the correlation between global liquidity growth and long-term price performance reveals a striking alignment of peaks and troughs with impressive precision. Daan asserts that this BTC setup holds greater significance than a rate cut, and the overall performance of the stock market will provide a valuable signal.
Amidst the prevailing fear in the market, a whale has been discreetly accumulating BTC since yesterday. Crypto educator Wilberforce Theophilus disclosed that in the last 24 hours, over 2,509.2 BTC, equating to around $221 million, has been amassed. Wilberforce states that December 2020 was objectively worse than the current situation, yet in January 2021, BTC started at $1 and surged to $19,000. When analyzed from a long-term perspective, December 2025 does not appear to be particularly bearish. “I have just one piece of advice: HODL and WAIT,” the expert noted.