Bitcoin's significant underperformance this year (down 18%) compared even to a novelty prediction market highlights strong negative sentiment and concerns around quantum computing, hedge fund stability, and broader risk-off trends.
The article is from coindesk, a reputable crypto news source, accurately reporting on bitcoin's recent price action and comparing it to a specific prediction market, providing a clear snapshot of current market sentiment.
Bitcoin has experienced an 18% decline this year, driven by fears ranging from quantum computing's potential impact on its encryption to speculation about hedge fund issues and a general 'risk-off' environment in global markets.
The described price slide and underperformance are specific to the current year (as of february 2026), indicating an immediate and ongoing trend in bitcoin's valuation.
Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Odds of Jesus Christ appearing in 2026 double, beating return on bitcoin The Polymarket bet is a reminder that the weirdest corners of crypto are sometimes the only ones going up. By Shaurya Malwa | Edited by Sheldon Reback Feb 8, 2026, 3:33 p.m. Make us preferred on Google (Christian Dubovan/Unsplash, modified by CoinDesk) What to know : Traders on prediction platform Polymarket have pushed the implied odds of Jesus Christ returning by the end of 2026 to about 4%, more than doubling since early January. The contract, treated largely as a novelty, has outperformed bitcoin this year as the cryptocurrency has slid on concerns ranging from quantum-computing risks to speculation of hedge-fund troubles. The movement highlights how thinly traded prediction markets can swing like microcap tokens and how Polymarket increasingly mirrors shifting online attention across politics, pop culture and religion. Traders on prediction market Polymarket have doubled the implied odds of the Second Coming of Jesus Christ occurring by year-end, turning one of the platform’s stranger contracts into a better performer than bitcoin. The market, titled “Will Jesus return in 2026,” traded around 4 cents on Friday, implying a roughly 4% chance. That’s up from a low of about 1.8% on Jan. 3, meaning the “Yes” side has gained more than 120% in just over a month. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . Bitcoin, in contrast, has been moving in the opposite direction. The largest cryptocurrency has lost 18% this year for reasons ranging from concerns that quantum computing could break its encryption to speculation about a hedge fund blow-up and broader risk-off pressure across global markets. Such price action has left even meme-like prediction contracts looking resilient by comparison. Polymarket markets work like binary options. A “Yes” share pays out $1 if the event happens and $0 if it doesn’t, with the trading price reflecting the crowd’s implied probability. A trader who buys “Yes” at 4 cents is effectively paying that amount for a shot at $1. Someone buying “No” at 96 cents is betting the event will not happen and stands to earn 4 cents if the contract resolves “No.” If “No” trades in the mid-to-high 90s for long stretches, it creates the appearance of a slow, steady gain for anyone willing to park money there, even though the trade is ultimately binary and can still swing sharply. The contract resolves to “Yes” if the Second Coming occurs by Dec. 31, 2026 at 11:59 p.m. ET, and to “No” otherwise. Polymarket says the resolution will be based on a consensus of credible sources, a clause that highlights why traders treat the market more as a novelty than a serious forecast. The price action offers a snapshot of how prediction markets can behave like microcap tokens. With relatively limited liquidity, even small bursts of buying can push probabilities sharply higher, creating headline-grabbing percentage gains. The rally also reflects Polymarket’s growing role as a real-time barometer for internet attention, where everything from elections to celebrity gossip to religious prophecies can be traded in the same interface. As such, the “Jesus trade” remains a tiny sideshow. But in a year where bitcoin has struggled to find a stable footing, it’s also a reminder that the weirdest corners of crypto are sometimes the only ones going up. Polymarket