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🟠BITCOIN TRANSACTION FEES HIT LOW

🟠BITCOIN TRANSACTION FEES HIT LOW

Day: 10 | Time: 17:16:24 Bitcoin transaction fees reached a four-year low on July 7, 2024, dropping to $38.69. Despite the low fees, Bitcoin miners have managed to maintain profitability due to the decrease in network difficulty. However, there are signs of miner capitulation due to high operational costs and the decline in Bitcoin's price. Despite this, miner revenues have decreased by 63% since the halving event.

Bitcoin transaction fees dropped to $38.69 on July 7, the lowest since 2020.
Despite low fees, Bitcoin miners maintained profitability due to decreased network difficulty.
Signs of miner capitulation appear as operational costs outweigh profits in a challenging market.