Bitcoin (BTC-USD) opened at $66,081.05 on Thursday, July 23, 2026, representing a 0.6% decline from Wednesday's opening price. By 9:22 a.m. ET, bitcoin had slipped further to $65,054.55.

Ethereum (ETH-USD) opened at $1,933.32 on the same day, edging 0.3% higher than Wednesday's open. However, the price moved lower during morning trading, reaching $1,899.38 by 9:22 a.m. ET.

Both digital assets have posted modest gains over the past month, contributing to cautious optimism among some market participants that the cryptocurrency market may have already found a bottom. Even so, both remain well below their 2025 all-time highs — bitcoin by roughly 48% and ethereum by roughly 62% — underscoring the magnitude of the drawdown that has fueled the ongoing debate.

In June, Coinbase CEO Brian Armstrong stated that bitcoin had reached its low point near $60,000. Following Armstrong's prediction, the cryptocurrency briefly dipped below $58,000. Bitwise CIO Matt Hougan expressed a similar view in early July.

More recently, Grayscale analyst Zach Pandl suggested that bitcoin could decline further, potentially bottoming out in September or October. However, Pandl added a caveat: "If the Fed forgoes rate hikes and economic growth holds up well, Bitcoin's price may already have bottomed." The reference to Federal Reserve policy is salient because digital assets, like other risk assets, have historically responded to shifts in interest rate expectations and broader liquidity conditions.

Bitcoin Price Performance

Bitcoin's opening price on Thursday was 0.6% lower than Wednesday's opening level. Compared to key historical benchmarks:

• One week ago: +2.1%
• One month ago: +3.3%
• One year ago: -44.9%

The all-time high for bitcoin was $126,198.07, recorded on October 6, 2025. The all-time low was $0.04865, recorded on July 14, 2010.

Ethereum Price Performance

Ethereum's opening price on Thursday was 0.3% higher than Wednesday's open. Compared to key historical benchmarks:

• One week ago: +0.9%
• One month ago: +12%
• One year ago: -48.4%

The all-time high for ethereum was $4,953.73, recorded on August 24, 2025. The all-time low was $0.4209, recorded on October 21, 2015.

Understanding Crypto Credit Cards

A bitcoin or crypto credit card functions much like a traditional credit card. Cardholders are assigned a credit limit upon approval and can use the card for everyday purchases. If the full balance is not paid by the monthly due date, interest accrues at the assigned APR.

The key difference lies in the rewards structure. Instead of earning airline miles, rewards points, or cash back, cardholders earn cryptocurrency. The percentage earned on each purchase — for example, 3% back on gas or 2% back at restaurants — is converted from U.S. dollars to bitcoin or another cryptocurrency at the current market rate. The rewards are then deposited into the cardholder's connected crypto account.

For instance, a $500 purchase earning 3% bitcoin rewards would generate $15 in U.S. dollars. With a bitcoin credit card, that $15 would be converted at the prevailing bitcoin price (approximately 0.00014 bitcoin as of October 2025) and deposited into the user's crypto account.

A notable advantage of crypto rewards is the potential for value appreciation over time. A bitcoin rewards balance worth $100 USD at the end of 2024 would have increased in value to approximately $114 by early October 2025, even without earning any additional rewards during that period.