Bitcoin and gold are both down YTD; this has never happened before in a year

The article says Bitcoin and gold are both down year-to-date, marking an unusual market setup because these two assets have never both been the worst-performing major assets in the same calendar year before, according to Charlie Bilello. The piece is largely a market commentary on the broad weakness in two widely watched safe-haven/inflation-hedge assets. Related pricing shown in the article indicates GLD was slightly lower on the day while BTC-USD was modestly higher, but both remain among the weakest major assets in 2026 so far. The market takeaway is that traditional hedges are not providing protection in this environment, highlighting shifting investor behavior and potential pressure from macro or liquidity conditions.