This paper investigates the in-plane compressive behavior of 5-layer cross-laminated bamboo and timber (CLBT) specimens with variable heights. Five different heights of CLBT specimens, ranging from 400 mm to 3800 mm, were designed for the experiment, with conventional 5-layer cross-laminated timber (CLT) specimens used as controls. Theoretical calculations based on timber structure design codes were employed to analyze the ultimate bearing capacity, complemented by finite element simulations based on Abaqus that also explored the failure characteristics. The results indicated that CLBT wall panels had a significantly higher ultimate bearing capacity compared to those of CLT wall panels. For wall panels of around 3.0 m and 6.0 m in height, the compressive strength of the CLBT panels was approximately 65% and 40% higher than that of the CLT panels, respectively. For specimens showing buckling instability, CLBT demonstrated more concentrated failure in the end regions, contrasting with CLT, which failed primarily in the central region. The outcomes of this study clearly delineate the superiority of CLBT over CLT when used as wall panels, providing valuable references for their potential engineering applications.