Bitcoin Updates Today: Gemini Introduces Bitcoin Card: Incentivizing Users to Connect Cryptocurrency with Everyday Purchases

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Bitget-RWA2025/11/23 21:04

By:Bitget-RWA

- Gemini launches Bitcoin credit card with referral rewards and cashback to bridge crypto and traditional finance. - Market analysis shows mid-cycle holders driving Bitcoin's 12% selloff below $90,000 amid oversold futures conditions. - Crypto cards differ from traditional offerings by enabling direct Bitcoin spending without fiat conversion, addressing user accessibility challenges. - Experts like Saylor and Winklevoss highlight Bitcoin's reduced volatility and potential for recovery, positioning crypto a

Gemini, a prominent name in the cryptocurrency sector, has revealed its new

Bitcoin

credit card, representing a major move toward integrating digital currencies into everyday spending. This card, crafted to connect the worlds of crypto and conventional banking, offers a two-tier rewards system featuring referral bonuses, cashback on purchases, and exclusive perks for top spenders. This initiative follows a wider industry pattern, as

BitMart recently unveiled similar programs

to boost user engagement and transaction activity.

The debut of the Bitcoin credit card comes at a time when the crypto market is both unstable and resilient. Even after a recent 12% drop that sent Bitcoin below $90,000, market analysts remain hopeful.

Nvidia's strong earnings report

earlier this week triggered a brief recovery, with Bitcoin rebounding 5% to $93,000 in a corrective move. At the same time,

VanEck's analysis highlights

that the current selloff is being led by mid-term holders rather than long-term investors, and futures data indicates the market is heavily oversold.

Bitcoin Updates Today: Gemini Introduces Bitcoin Card: Incentivizing Users to Connect Cryptocurrency with Everyday Purchases image 0

Gemini’s card aims to take advantage of this market turbulence by providing users with an easy way to use crypto for purchases while earning incentives. Its referral program, similar to BitMart’s two-level system, encourages users to bring in new members, potentially speeding up adoption through network effects. Cashback rewards, linked to spending, are intended to make crypto payments as attractive as those from traditional cards. This mirrors BitMart’s strategy, which

has seen its card become a core component

of its payment expansion efforts.

Key industry figures are also sharing their perspectives on Bitcoin’s outlook. Michael Saylor, MicroStrategy’s CEO, pointed out that Bitcoin’s volatility has decreased, dropping from 80% in 2020 to 50% now. He described Bitcoin as “more robust than ever,” and noted its ability to withstand significant downturns

according to industry analysis

. Cameron Winklevoss, Gemini’s co-founder, agreed,

tweeting that Bitcoin under $90,000

is a “final opportunity to buy” before the next upward surge.

The launch of this card also signals a broader evolution in fintech. Traditional banks are also innovating, as shown by

RBL Bank recently launched premium credit cards

such as Lumiere and Nova, with annual fees between Rs 12,500 and Rs 50,000. However, crypto cards set themselves apart by directly linking to digital asset balances, enabling users to spend Bitcoin without converting it to cash. This addresses a major challenge for crypto holders, who often encounter complicated steps to access their funds through standard banking channels.

Technical signals indicate that Bitcoin may remain in a range between $88,000 and $93,000 until a more decisive event occurs

according to market analysis

. For now, Gemini’s card and similar offerings are designed to build trust in crypto as a viable payment method. By aligning rewards with real-world spending, platforms like Gemini are betting that crypto payments will soon become as commonplace as those in fiat currency.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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