Bitcoin Price: Stronger Than the Market, Altcoins Fall

Bitcoin stood at roughly $83,200 at midday on Tuesday, or $83,212.80 and €74,361.20 to be exact, according to Kraken data. That is a gain of 1.8 percent on Monday's close of $81,737.20. The striking part is not the number itself but its surroundings: Bitcoin is, at this moment, the only one of the eight largest coins trading higher over 24 hours.

Ethereum is down 1.3 percent over the same period, XRP 2.2 percent, Solana 3.6 percent, Dogecoin 2.6 percent, Shiba Inu 4.5 percent and Polkadot 7.2 percent (CoinGecko, as of October 13, midday). Over seven days the gap is wider still. That spread is the real reason for this article, and for private investors in Germany it carries a very specific tax consequence, set out further below.

Where the Bitcoin price stands at midday on Tuesday

The night was restless. Bitcoin fell as low as $80,951.20, marking the low of the day, recovered to $84,053.10 and settled just above $83,000 by midday. The distance between the daily low and the daily high is $3,101.90, or 3.8 percent. For a Tuesday without a major scheduled event, that is a wide range.

In euro terms BTC stands at €74,361.20, with a daily high of €75,146 and a low of €72,568.40. The price is 34 percent below its all-time high of $126,080. Trading volume on Kraken over the past 24 hours came to 2,409 BTC across 166,327 individual trades, with a volume-weighted average price of $82,667.32. The current price therefore sits above the daily average, which means buyers in the second half of the day paid above the mean.