Bitcoin mispricing deepens as BTC trades below $100K, but not for long: Bitwise
Bitcoin’s underperformance versus gold and the rapid expansion of global liquidity suggest that BTC’s current pricing is deeply discounted. Will BTC be the star performer of 2026?
Bitcoin’s (BTC) current trading behavior reflects one of its deepest macroeconomic disconnects in years, with global liquidity surging while BTC continues to lag behind money supply growth and gold’s record performance. A recent report from Bitwise suggested this gap may be setting up a significant asymmetric opportunity in Bitcoin heading into 2026.
Key takeaways:
Bitcoin is currently undershooting the global money supply by 66%, implying a model-based fair value near $270,000.
