[K33 Research Predicts Bitcoin Will Outperform Stock Indices and Gold in 2026] K33 Research stated in its '2025 Annual Review' report that in 2025, the fundamentals and price performance of cryptocurrencies were significantly disconnected. Bitcoin underperformed U.S. stocks and gold due to early holders taking profits and market structure adjustments, with volatility hitting a historic low. The report predicts that Bitcoin will outperform stock indices and gold in 2026, benefiting from regulatory victories and a shift in macroeconomic policies. It is expected that President Trump will appoint a dovish Federal Reserve Chair, and expansionary policies will favor scarce assets. On the regulatory front, the 'Clarity Act' is expected to pass in the first quarter of 2026. Morgan Stanley plans to allow advisors to allocate Bitcoin ETFs, and E*Trade's retail crypto trading is set to launch in the first half of the year. ETF net inflows in 2026 are projected to exceed those in 2025, with corporate treasury net absorption reaching 150,000 BTC, a year-on-year decrease of 330,000 BTC. Long-term holdings are expected to rebound to over 12.16 million BTC by the end of the year.