Bitcoin Transaction Fees Reach Lowest Level in 14 Years While Price Stays Above $87K
Bitcoin Transaction Fees: Bitcoin transaction fees have dropped to below 3 BTC, the lowest level in over 14 years, indicating a significant decline in blockchain activity and competition for block space.
Miner Pressure: The decrease in fees and on-chain volume may pressure miners to sell BTC to cover operational costs, potentially impacting long-term miner sustainability and network security.
Regime Score and Market Trends: Bitcoin's regime score has turned bullish, suggesting potential for a Santa rally as technical conditions align with seasonal trends, despite the score remaining below the 16% threshold.
Current Market Status: Bitcoin's price is currently at $87,609.70, reflecting a 1.98% drop in the last 24 hours but a 1.75% increase over the past week, indicating some recovery amidst market pressures.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36063.262 | 48031.631 | 60333.282 | 72301.651 | 84603.302 | 96571.671 | 108873.322 |
| Fibonacci | 48031.631 | 57302.779 | 63030.503 | 72301.651 | 81572.799 | 87300.523 | 96571.671 |
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