Crypto Card Usage Surges 2.7x Since January 2025, Shows No Correlation With Bitcoin Price Swings

According to independent researcher Alex Obchakevich, crypto card transaction activity grew 2.7 times since January 2025 despite sharp swings in Bitcoin prices. Analysis of 76 weeks of transaction data from 16 crypto card providers found virtually no correlation between card usage and Bitcoin's price movements.

Median card top-ups remained stable within $90 to $135 even during periods of heightened volatility, while transaction behavior has become more evenly distributed across users rather than concentrated among heavy spenders. The findings challenge the assumption that crypto spending rises and falls with market sentiment, suggesting cards are increasingly treated as practical financial tools.