Bitcoin Fees Plummet as BTC Price Breaks Negative Streak

The recent surge in Bitcoin prices has been accompanied by a significant decrease in transaction fees, with the average fee dropping to its lowest level in nine years.

This decline is largely attributed to the introduction of inscriptions, which have led to increased congestion on the network. As a result, competition for block space has decreased, causing fees to plummet.

According to CryptoQuant analyst Darkfost, the average transaction fee has fallen below $0.40 on an annual basis, making it cheaper for users to send BTC.