Bitcoin and Ethereum prices advanced on Wednesday, August 12, 2026, as cryptocurrency markets stabilized following a disappointing July jobs report and ahead of the Consumer Price Index (CPI) release expected later in the day.

Bitcoin Price Movement

Bitcoin (BTC-USD) opened at $63,547.05 on Wednesday, August 12, 2026, representing a 0.6% decline from Tuesday's opening price. By 8:00 a.m. ET, however, the price had risen to $64,194.

Bitcoin's opening price has changed as follows compared to prior periods:

• One week ago: -0.8%
• One month ago: -0.4%
• One year ago: -46.5%

Bitcoin's all-time high was $126,198.07, recorded on October 6, 2025. At its 8:00 a.m. ET level, bitcoin was trading roughly 49% below that peak. Its all-time low was $0.04865, recorded on July 14, 2010.

Ethereum Price Movement

Ethereum (ETH-USD) opened at $1,881.10 on Wednesday, August 12, 2026, up 0.5% from Tuesday's opening price. As of 8:00 a.m. ET, ethereum had climbed to $1,915.50, approximately 61% below its record high.

Ethereum's opening price has changed as follows compared to prior periods:

• One week ago: +0.7%
• One month ago: +5.2%
• One year ago: -55.5%

Ethereum's all-time high was $4,953.73, reached on August 24, 2025. Its all-time low was $0.4209, recorded on October 21, 2015.

Market Context

Cryptocurrency prices, along with precious metals, are finding support in the aftermath of a disappointing July employment report released last week. Market participants are also awaiting today's CPI report, which tracks the average change in prices that urban consumers pay for a basket of goods and services and serves as one of the Federal Reserve's primary inflation gauges. Analysts expect the July figures will show inflationary conditions eased slightly compared to June.

The July jobs report, combined with expectations for the July CPI figures, has led many market observers to scale back their expectations for a Federal Reserve rate increase in September. Interest rate increases are generally considered a headwind for bitcoin and ethereum prices, as risk-based assets such as cryptocurrencies do not pay interest.

Crypto and Taxes

In the United States, taxpayers generally owe taxes when they sell cryptocurrency for more than its purchase price. This also applies to exchanges of one digital asset for another. Converting bitcoin into ethereum, for example, constitutes a taxable event if the value has changed, according to IRS rules.

Crypto taxes are not paid at the time of a transaction but are reported on the taxpayer's return for the year in which the transaction occurred. For instance, profits from crypto sales during 2025 would be reported when filing the 2025 tax return in early 2026.

The amount of tax owed depends on two primary factors: how long the asset was held before selling, and the taxpayer's overall taxable income and filing status. Assets held for less than one year are typically subject to higher short-term capital gains rates, while those held longer qualify for lower long-term rates. For most taxpayers, long-term capital gains rates are 0%, 15%, or 20% depending on income, while short-term gains are taxed as ordinary income with a top federal rate of 37%. The holding-period distinction can result in a rate difference of 17% or more.