BTC on-chain fees are at 3 sat/vB, with so little congestion that nobody is competing for block space. The price is hovering around $78,090, up 0.85% on the day; the market is a little hotter than on-chain activity.
I read this fee level as a sign that there are no inscriptions, no panic transfers, and no influx of new funds rushing to find a spot. For now, the market has little interest in moving assets on-chain.
To confirm that activity is picking up again, first see whether the next set of fee rates can rise above 3 sat/vB, then see whether BTC can break above $78,090 and keep climbing. If both remain subdued, keep treating this as a cold market.
I read this fee level as a sign that there are no inscriptions, no panic transfers, and no influx of new funds rushing to find a spot. For now, the market has little interest in moving assets on-chain.
To confirm that activity is picking up again, first see whether the next set of fee rates can rise above 3 sat/vB, then see whether BTC can break above $78,090 and keep climbing. If both remain subdued, keep treating this as a cold market.