Bitcoin prices fall 4.4% in US dollars and 0.5% in euros: What German investors need to know

Bitcoin weekend evening quote: US$84,828 versus 75,348 euros

On Saturday night, Bitcoin was priced at US$84,828. The same amount is shown as € 75,348 in German accounts, and the two numbers tell very different annual performance stories. In dollar terms, Bitcoin has fallen 4.4% since the beginning of the year; in euros, the decline has been only 0.5%. This gap of about four percentage points stems from the foreign exchange market, not the cryptocurrency market itself.

For investors in Germany, there is no doubt about this. You pay in euros, you get settlement in euros, and the tax authorities also make calculations in euros. The first dollar price displayed on the price page describes global market conditions. The value of your portfolio, the fees deducted by the exchange, and the final data in the year-end tax return attachment (Anlage SO) all depend on the euro value. This article compares the two side by side to measure their deviation in 2026, and provides a verification method you can conduct yourself this weekend.

According to market data from CoinGecko, the price of Bitcoin was US$84,828 on Saturday night. In the past 24 hours, the price range has been between $83,898 and $85,238, with a intra-day change of-0.24%. It was a calm trading day, and the currency price itself fluctuated very little.

In euros, the price of Bitcoin at the same time on the same day is 75,348 euros, with an intra-day range of 74,530 euros to 75,720 euros, with an intra-day change of-0.40%. As a result, euro pricing performed slightly weaker than dollar pricing, even though it was the price of the same coin for the same hour. The reason for this difference is the exchange rate between the two numbers.

Among the five sets of data, different statements are presented on the left and right sides of each group. If you only read the left-hand column, you will see the annual perspective of American investors.

Why does the same Bitcoin have two different prices

比特币没有单一的美元统一价格，也没有单一的欧元统一价格。交易总是成对发生，价格属于该交易对。在大型交易所中，交易量几乎全部集中在美元和挂钩美元的稳定币上。欧元交易对是一个衍生交易对：其价格本质上由美元价格和当前的欧元兑美元汇率决定。

由此得出一个规则，这在平静市场日的表现比在剧烈波动日更为明显：如果美元兑欧元升值，即使美元价格一分未动，比特币的欧元价格也会上涨。如果美元贬值，欧元数值会下降，尽管纽约市场的其他一切保持不变。

欧洲央行参考汇率及其作用

在欧洲央行参考汇率通常作为德国此类汇率的基准。它是在中欧时间下午2:15左右每天确立并发布的一个利率。它不是你可以买入的交易汇率。它的用途在于别处：它是一个公开的、每天明确无误的值，任何人都可以查阅。正是这一点使其适用于记录保存。

2026年10月2日，美元兑欧元的欧洲央行参考汇率为每欧元1.1225美元。而在2026年1月2日（新年的第一个交易日），该比率为每欧元1.1721美元。因此，在这九个月期间，美元兑欧元升值了4.42%。任何人将上述表格中的两个百分比相减，都会得到几乎相同的数值。比特币美元年度表现与欧元年度表现之间的差异，就在于美元。

Conversion rates operate in the context of every Bitcoin order and do not appear on any display.

The US dollar fell 4.4% and the euro fell 0.5%: How big is the impact of currencies on annual results?

On January 2, 2026, Bitcoin was quoted at US$88,764 and EUR 75,698. For the first nine months of the year, this resulted in a 4.43% decline in the dollar and a 0.46% decline in the euro. An American investor has suffered significant losses so far in 2026. One German investor, on the other hand, remained almost at where he started in January.

Taking 10,000 euros as an example

Anyone who bought 10,000 euros on January 2, 2026 at the current euro price received approximately 0.1321 bitcoins. On Saturday night, the value of this amount was 9,954 euros. The result before deducting expenses was a loss of € 46. If the exchange rate remains unchanged and only the US dollar price develops in the above manner, then 9,557 euros will remain in the same position, resulting in a loss of 443 euros.

In this example, currency factors caused a difference of nearly 400 euros, the principal amount was 10,000 euros, and the investors had no action. In years when prices fluctuate violently, this effect disappears in noise. But in a sideways consolidation year like 2026, it is the result.

The historical record is farther in dollar terms, and closer in euro terms

比特币的历史最高价为126,080美元。从当前水平来看，还需要上涨32.7%才能达到这一高度。以欧元计算，纪录位于107,662欧元，从75,348欧元算起，缺口为30.0%。相同的距离，两个不同的数字。

这不仅仅是趣闻。如果有人设定终点线，例如将旧高点作为部分卖出的触发点，那么这个终点线是以一种货币设定的。将其固定在美元上，你的欧元投资组合可能达到旧高点而不会触发你的水平。将其固定在欧元上，它可能在头条新闻仍在报道缺失的记录时就已触发。只要你知道你的水平指的是哪一个数字，这两种做法都是合理的。

过去30天：欧元价格上涨12.9%，美元价格上涨9.7%

2026年9月3日，比特币价格为77,297美元和66,721欧元。此后，美元价格上涨了9.74%，欧元价格上涨了12.93%。这一次，欧元数值高于美元数值，原因与年度比较相同：9月初美元较弱，参考汇率为1.1615。

货币效应在月度窗口和年度窗口中都对你有利，这并不是自然法则。它向两个方向起作用。如果欧元重新回升至接近1.17美元，它将取走今年美元强势赋予德国投资组合的全部收益，而比特币本身没有任何变化。

价差与转换费：交易所添加到全球市场价格的部分

Prices in market data are averages across multiple trading venues. Your exchange charges you more than this. There are three items combined, and all three can be checked before purchasing.

The first is the spread, which is the distance between the best buy price and the best ask price in the order book. In euro pairs with thin trading volume, the distance is wider than in dollar pairs on the same exchange. The second is transaction fees, which are incurred based on the order type and transaction volume level. The third is the currency conversion fee, which some providers charge when you deposit in euros but the transaction is conducted through a U.S. dollar trading pair.

Euro pairs vs. US dollar pairs: Settlement differences

Trade the euro pairs directly, where you will pay the spread and immediately see the euro amount. Trading pairs in U.S. dollars, you usually get a tighter spread, but the conversion fee is added as a separate item, usually a mark-up on the interbank exchange rate. Which route is cheaper depends on the provider and the size of your order. A reliable answer can only be obtained by running the same amount until the order is confirmed and comparing the two final amounts. Fee models for large trading venues are also ranked in the comparison of crypto exchanges.

Explanation on size: In an order of 1,000 euros, the spread is 0.2 percentage points wider and equivalent to 2 euros. The monetary effect this year is about 4%. The fee issue is still worth studying because it reappears in every order and the exchange rate is only effective once.

For tax authorities, the euro value of each transaction is crucial

在德国，出售比特币的收益属于《所得税法》第23条规定的私人处置交易。应税收益是处置价格与获取成本之间的差额，这两个数量均为欧元金额。如果你通过美元交易对或针对挂钩美元的稳定币进行交易，则必须使用各自日期的汇率将交易的每一方转换为欧元。

正是在这里，欧洲央行参考汇率变得实用。它是发布的、每天明确无误且随时可验证的。任何人如果一致使用它并记录来源，就能获得多年后仍可追溯的转换。一致性是关键：混乱的汇率、门户数据和估算会产生事后无法解释的差异。投资组合跟踪器为你处理这种转换，并按交易记录；概览位于税务工具和组合跟踪器中。

持有期限和豁免限额：第23条的两个关键数字

有两个数量决定收益是否产生税收。第一个是一年的持有期：如果获取和处置之间超过一年，收益免税。第二个是2024年起适用的每年1,000欧元的豁免限额。如果一年的所有私人处置收益总和低于此限额，则不产生税收。一旦达到限额，整个金额都将纳税，而不仅仅是超额部分。这就是豁免限额和津贴之间的区别。

Since the limit is in euros, the exchange rate can help determine which side of the limit you fall on. Gains that are Clearly below the threshold in dollar counts may be above the threshold in euro counts. This can only be checked through euro calculations, not through application displays that often run in dollars.

Upper and lower levels: The January level of 75,698 euros serves as the dividing line

is above, the first line is at 75,720 euros (the daily high of the past 24 hours), and immediately next to it is 75,698 euros. The second number does not come from chart analysis. It is the euro price on January 2, and therefore determines the sign of your euro year: above it, 2026 is in positive territory for German portfolios; below it, negative. At 75,348 euros, it is still 0.5% short of the target.

Below, the next line is at 74,530 euros (daily low). Below this, a range without significant daily levels opens, extending to the area of September lows. In U.S. dollars, these lines correspond to 85,238 and 83,898. The two currencies do not exactly mark the same moment here because the dollar price and exchange rate move independently within a day.

More important than any of these lines is a dispassionate assessment: In dollar terms, the intraday balance is 0.24%, and the market is currently not signaling. Those who make decisions in this position are based on their own reasons, such as holding periods, liquidity needs or asset allocation.

Holiday weekend buying routes: What can I do now by transferring money

October 3 is a public holiday in Germany, and in 2026 it falls on Saturday. For the cryptocurrency market, nothing has changed, it runs 24/7. But it changes a lot for the path your money takes to the exchange. Ordinary SEPA transfers are not performed on public holidays and weekends; they arrive at the target account as early as Monday.

The situation is different for instant transfers. From October 9, 2025, eurozone payment service providers must be able to send instant transfers after receiving instant transfers (which became mandatory in January 2025). Such transfers arrive in seconds and run 24/7, including on holiday Saturdays. If you want to buy today at a specific price in euros, that's the difference between today and Monday, and the difference between 75,348 euros and a price that no one knows about today.

At the provider itself, European crypto asset market regulations will be fully applicable from December 30, 2024. Any institution providing crypto asset services in the EU requires a license; in Germany, BaFin grants and supervises it. Before making a deposit, it's worth checking what license you use at your trading venue and where it's hosted. A licensed custodian is a statement of regulation rather than a guarantee of price loss.

Bitcoin in the U.S. Dollar and Euro: Key Points for Decision-Making

Recalculate your annual performance in euros.
Compare your entry price in euros with 75,348 euros. The dollar figure in the headlines describes a different outcome than yours; this year, the difference is about four percentage points. See where you can go in and out of euros and what the cost is for more details on the Bitcoin Purchase Overview.

Before placing the next order, test both routes until the order is confirmed.
Compare final amounts instead of percentages, once through euro pairs and once through dollar pairs with conversions. Fee models are also ranked in the comparison of crypto exchanges.

Locks in the value of euros on the day for each transaction.
Consistent, published conversion rates and historical closed gaps are key to counting when problems arise. Tools to record this can be found in Tax Tools and Combination Tracker.

(As of October 3, 2026. This article does not constitute investment advice. Price and fee structures are subject to change; please check terms with your provider before purchasing.)