Itching, burning, pain, and scaling of the foot skin are all due to Athlete's foot condition.
In more severe cases cracking of the skin can appear (bleeding, too), as in your case.
So, I think the itching and tenderness is due to fungal infection.
Are you treated for this?
Do you find redness, warmth and swelling in area of cracked skin?
Do you smell bad odor coming from the same place?