Across the financial landscape, Bitcoin stands out as one of the few major assets that has failed to keep pace with broader market gains. This underperformance comes despite strong underlying fundamentals, where its price is governed by hedging and synthetic leverage mechanisms rather than by the conviction of its holders. Network security remains strong, long-term holders continue to dominate supply, and institutional access has never been wider.
How this cycle is different for Bitcoin
There is no satisfactory explanation for one of the strangest market results of the year. An entrepreneur, Bitcoin investor and founder of Wealth Mastery, Lark Davis, has mentioned on
Davis emphasized that in 2025, the UNITED STATES There was a pro-BTC administration for the first time in history, and there was demand for the cryptocurrency and maximum adoption from institutions and nation states. Macroeconomic conditions have become favorable and Wall Street has effectively rolled out the red carpet for BTC.
At the same time, Michael Saylor’s strategy purchased a supply of BTC greater than miners’ average daily production. Despite all this bullishness, BTC is still down 6% from its annual open and still around 30% below its all-time high. Meanwhile, the rest of crypto It looks worse as altcoins have been crushed, with many down 80-90% over the past two years.
The Bitcoin 2026 chart will be the most important to watch. Daan Crypto Trades, full-time crypto trader and investor, highlighted that global liquidity is the metric to watch for BTC’s long-term performance. It’s not a holy grail that works every day, but there are short-term gaps currently.
By overlaying global liquidity growth with long term price performance, this shows that the peaks and troughs align with remarkable precision. Daan believes that this BTC pattern is more important than a rate cut, and that the overall performance of the stock market will reveal a good signal.
Whale accumulation as market hesitates
While fear dominates the market, a whale has been discreetly buying BTC since yesterday. Wilberforce Theophilus, cryptography educator revealed that in the last 24 hours, over 2,509.2 BTC, or approximately $221 million worth of BTC, has been accumulated.
According to Wilberforce, December 2020 was objectively worse than today, but in January 2021, BTC was at $1, then rebounded to $19,000. December 2025 doesn’t stand out as extremely bearish seen from a long-term perspective. “I only have one piece of advice: HODL and WAIT,” the expert noted.
Featured image from Getty Images, chart from Tradingview.com
Editorial process as Bitcoinist focuses on providing thoroughly researched, accurate and unbiased content. We follow strict sourcing standards and every page undergoes careful review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance and value of our content to our readers.
