Bitcoin and Ethereum Rise After July Jobs Report Misses Expectations
Key Takeaways
- •Bitcoin and ethereum prices rose during morning trading on August 7, 2026, following a disappointing July jobs report that increased expectations for Federal Reserve interest rate cuts.
- •The U.S. economy unexpectedly shed 23,000 jobs in July, contrasting with economist forecasts that predicted a gain of 80,000 jobs.
- •The Federal Housing Finance Agency has instructed Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for mortgage qualification.
- •Bitcoin's all-time high reached $126,198.07, while ethereum's record peak stands at $4,953.73.
- •Integrating cryptocurrency into the mortgage process aligns with the Trump administration's goal of making the United States the global leader in digital assets.

Bitcoin (BTC-USD) opened at $64,259.68 on Friday, August 7, 2026, 0.5% below Thursday's opening price. By 9:02 a.m. ET, bitcoin had moved higher to $65,143.87.
Ethereum (ETH-USD) opened at $1,902.20 on Friday, August 7, 2026, down 0.2% from Thursday's opening price. As of 9:02 a.m. ET, ethereum had risen to $1,929.36.
Bitcoin and ethereum were moving higher in response to the July jobs report, which came in well below economists' expectations. Economists surveyed by Bloomberg had expected 80,000 new jobs in July and an unchanged unemployment rate. Instead, the U.S. economy lost 23,000 jobs in July, while the unemployment rate edged down to 4.1%. Weaker-than-expected employment data can shift expectations toward Federal Reserve interest rate cuts, a dynamic that has historically influenced cryptocurrency markets alongside other risk-sensitive assets.
Current price of bitcoin and ethereum
Bitcoin
Bitcoin's opening price on Friday was 0.5% lower than Thursday's opening price. Here is how the opening price compares with previous periods:
- One week ago: -0.7%
- One month ago: +0.4%
- One year ago: -44.1%
Bitcoin's all-time high was $126,198.07 on Oct. 6, 2025. Its all-time low was $0.04865 on July 14, 2010.
Ethereum
Ethereum's opening price on Friday was 0.2% lower than Thursday's open. Here is how the opening price compares with previous periods:
- One week ago: -0.8%
- One month ago: +5.8%
- One year ago: -48.4%
Ethereum's all-time high was $4,953.73 on Aug. 24, 2025. Its all-time low was $0.4209 on Oct. 21, 2015.
Bitcoin, ethereum, and other cryptocurrencies are rapidly evolving. Follow the latest developments from Yahoo Finance and others here.
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President Trump has said he wants the United States to be "the crypto capital of the world." In that context, Federal Housing Finance Agency (FHFA) Director William J. Pulte ordered Fannie Mae and Freddie Mac in late June to "prepare their businesses to count cryptocurrency as an asset for a mortgage."
The FHFA oversees Fannie Mae and Freddie Mac, the government-sponsored companies that support a major share of the mortgage market. Pulte said the housing system "needs a massive upgrade," adding, "I want people who own cryptocurrency to be able to buy homes like everyone else. I believe cryptocurrency is an asset. I believe Americans should be able to use their crypto if they want to. It's time the housing system caught up."
The move could mark a major change in how cryptocurrency is used to qualify for a mortgage, reflecting a broader push under the Trump administration to integrate digital assets into the U.S. financial system.
Learn more: Want to buy a house with crypto? Here's what to expect.
Bitcoin and ethereum price charts
Whether you are new to following bitcoin and ethereum or have tracked crypto markets for years, Yahoo Finance's bitcoin and ethereum price charts provide a visual record of how the two assets have moved over time.
(BTC-USD)
(ETH-USD)
More information on crypto from the Yahoo Finance team:
- How to trade crypto: A step-by-step guide
- Do you need a bitcoin credit card?
- Can you buy crypto with a credit card?
- President Trump called for a strategic bitcoin reserve. How it would work.
- How to buy a house with crypto
- Yes, crypto is taxed. Here's when you have to pay.
- How to buy ethereum — and what to know before you do
- How to buy solana: A step-by-step guide
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