Bitcoin Fees Plummet: Galaxy Raises Concerns Over Long-Term Sustainability

Bitcoin’s fee market is experiencing unprecedented change, prompting questions about the network’s future financial health. Recent declines in non-monetary transactions like Ordinals and Runes have led to a significant drop in on-chain activity. This has resulted in an influx of near-free blocks, creating a situation where users can send bitcoin cheaply while miners struggle for revenue. Analysis from Galaxy Digital reveals the potential risks this poses for Bitcoin’s long-term stability.