VanEck manager: Widening BTC-Nasdaq 100 decoupling may signal future rally

David Schussler, a fund manager for VanEck's digital asset fund, suggested in a 2026 asset market outlook report that Bitcoin's growing decoupling from the Nasdaq 100 index could signal the start of a major rally. He noted that BTC has underperformed the index by approximately 50% this year. Schussler argued that if the trend of the "debasement trade"—hedging against the falling value of fiat currencies—continues, Bitcoin is highly likely to rebound strongly, as it has in the past. He added that increased government spending to address political challenges and cover future fiscal burdens will ultimately lead central banks to supply more liquidity, which will in turn drive capital into scarce assets like Bitcoin and gold.