House View 2026
Discover what Amdax's asset management team expects to be the key themes of 2026.
Our expectations for 2026
- In 2026, bitcoin posts a positive return and sets a new all-time high, marking the end of the four-year cycle
- Tokenized stocks and ETFs become the biggest drivers of the RWA sector
- Banks move into stablecoins at scale and launch digital currencies worldwide
- Conditional privacy becomes the standard for financial privacy
- Trading volume on decentralized perpetual futures overtakes their centralized counterparts
- Conflicts within the Bitcoin community lead to a Bitcoin hard fork
- Fee sharing becomes the norm in DeFi and gives governance tokens renewed economic value
Read the full House View 2026 for the reasoning behind all seven predictions (in Dutch). Download the House View 2026 (pdf)
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September once again brought weak U.S. labor market data, though investors initially viewed this as a positive sign: the Federal Reserve would likely continue with accommodative policy. Equities and crypto rallied briefly, until the latter corrected by more than 10% following the rate cut, driven in part by liquidations. Still, there are few signs that the market has reached a definitive top, allowing crypto investors to enter the final quarter with confidence.
Reports
Monthly: October 2025
While early in the month people were still cheerfully pointing to the supposed correlation between precious metals and bitcoin, a sharp price drop hit many crypto investors like a cold shower. Bitcoin turned out not to be a safe haven after all, but subject, among other things, to the turmoil around the U.S. government and global unrest caused by Chinese export restrictions. The sour mood, however, seemed largely confined to the group of investors who may have been a bit too optimistic.
Reports
Monthly: August 2025
At the macroeconomic summit in the US at the end of August, financial markets held their breath. At the annual Jackson Hole Economic Symposium, the focus was primarily on disappointing labor market figures rather than inflation. That fueled hopes of rate cuts. Meanwhile, both bitcoin and ether broke price records, but the real frenzy is still absent.