BIT Capital Quarterly Report Crypto Q1 2026

The start of 2026 was initially shaped by a clearly growth-friendly macro setup: fiscal stimulus, regulatory easing, and a supportive monetary policy met with moderately declining inflation and stable growth expectations. In February, however, a regime shift occurred: disruptive forces in the area of AI-driven software development triggered an abrupt repricing of the software sector. The resulting correction expanded, driven by technical factors, into a broad factor rotation – largely decoupled from fundamental corporate data. Even operationally strong stocks came under pressure.

The Quarterly Report Crypto discusses which macroeconomic factors fuelled the correction in the first quarter, which structural advances in the background further drove the maturation of the crypto ecosystem, and how we positioned our portfolio tactically and strategically in response.