Bitcoin Transaction Fees Reach Lowest Level in 14 Years While Price Stays Above $87K
Bitcoin Transaction Fees: Bitcoin transaction fees have dropped to below 3 BTC, the lowest level in over 14 years, indicating a significant decline in blockchain activity and competition for block space.
Miner Pressure: The decrease in fees and on-chain volume may pressure miners to sell BTC to cover operational costs, potentially impacting long-term miner sustainability and network security.
Regime Score and Market Trends: Bitcoin's regime score has turned bullish, suggesting potential for a Santa rally as technical conditions align with seasonal trends, despite the score remaining below the 16% threshold.
Current Market Status: Bitcoin's price is currently at $87,609.70, reflecting a 1.98% drop in the last 24 hours but a 1.75% increase over the past week, indicating some recovery amidst market pressures.
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