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Bitcoin and ethereum climb ahead of today’s CPI release
Bitcoin was up to $64,194 and ethereum to $1,915.50 by 8:00 a.m. ET as traders weighed expectations that July inflation cooled versus June.
Bitcoin and ethereum rose in early trading on Wednesday, August 12, as investors looked ahead to a scheduled CPI report, according to Yahoo Finance. Bitcoin opened at $63,547.05, down 0.6% from Tuesday’s opening price, and was last around $64,194 by 8:00 a.m. ET.
Ethereum opened at $1,881.10, up 0.5% from Tuesday’s opening price, and moved higher to about $1,915.50 as of 8:00 a.m. ET. The move came after a disappointing jobs report last week, which, along with CPI expectations, has led many observers to scale back expectations for a Fed rate increase in September.
The outlet said the market is treating rate hikes as a headwind for crypto because digital assets like bitcoin and ether do not pay interest like traditional yield-bearing instruments. Yahoo Finance also noted bitcoin’s all-time high of $126,198.07 on Oct. 6, 2025 and ethereum’s all-time high of $4,953.73 on Aug. 24, 2025, for context on how far prices are from peaks.
In addition, Yahoo Finance included a reminder that cryptocurrency sales can trigger tax obligations if investors realize gains, and that exchanging one digital asset for another can also be treated as a taxable event by the IRS.
Latest closeBitcoin $81,906.63 ▼1.4%