Bitcoin drops to 13th largest asset as capital flees to AI and precious metals

Bitcoin’s weak 2026 performance has coincided with sharp gains in metals and semiconductor giants, raising concerns that the cryptocurrency could continue losing ground.\nWhat to know : Bitcoin is down 11% year to date and nearly 30% over the past year, while metals and semiconductor stocks have posted major gains. Gold surged to a record $5,600 per ounce in January before easing back to around $4,486, while silver climbed as high as $120 per ounce and now trades near $76. TSMC and Broadcom have overtaken bitcoin in market capitalization, while Micron Technology recently crossed the $1 trillion valuation mark amid the ongoing AI and semiconductor driven rally.