Bitcoin’s transaction fees spiked by 42% to a year-to-date high of 2.4 USD, indicating high demand for block space as the price nears the key 105,000 USD level.
Despite increasing transaction fees, overall transaction volume decreased to 378,000, suggesting a shift in market activity towards larger players and institutions.
The demand from institutional holders suggests ongoing accumulation of Bitcoin, with potential price movements that could see BTC trading between 100,000 USD and 105,000 USD before any significant breakout.
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