The average Bitcoin transaction fee this week hit its lowest level since 2011, falling to 0.00000695 BTC. In US dollars, the average fee fell to $0.37, the lowest since 2020.

In addition, the fee-to-block reward ratio decreased to 0.012, which is the lowest level in the last year.

Given that Bitcoin's block reward decreases approximately every 210,000 blocks (or every four years), this highlights the need for community discussion of the future of Bitcoin and its security budget.