Bitcoin Transaction Fees Plummet to Lowest Levels Since 2011, Signaling Market Turmoil

Recent data reveals a surprising development in the Bitcoin market: transaction fees are hitting record lows. This has sparked concerns about the sustainability of the current price surge and raised questions about potential market shifts. The drop is attributed partly to investor sentiment towards Federal Reserve rate cuts, which have reached levels not seen in over a year, according to Glassnode data. However, this drop comes amidst a period of rising exchange balances, suggesting that investors are preparing for possible selling pressure.