Crypto asset prices fell 36% through the first half of 2026 while crypto equities returned 23%, beating every major asset class except emerging market equities, Bitwise said in a Tuesday memo.
Ryan Rasmussen, head of research at the asset manager, pulled five charts from the firm's quarterly Crypto Market Review to argue that fundamentals across the sector held up through a price drawdown. "There are bull markets everywhere for those with the eyes to see," Rasmussen said.
Performance of Crypto vs. Major Asset Classes | Image: Bitwise.
A lonely winter
Gold was the only other major asset class in the red at the halfway mark, down 7%. Everything else finished the period in green.
