Analysts: Reduced BTC Network Fees Could Lead to Miner Selling Pressure

IconCNT15 May, 2024

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Analysts: Reduced BTC Network Fees Could Lead to Miner Selling Pressure

Declining network fees could lead to increased selling pressure from miners, according to analysts from the crypto researcher Kaiko. The analysts noted that the decline in fees has been observed in the aftermath of the April bitcoin halving and is due to the reduced inflows into the Replace-by-Fee (RBF) protocol following its post-halving spike. According to data from Glassnode, transaction fees spiked to 0.00199 BTC in the immediate aftermath of the halving, but have since declined to 0.000039 BTC. Previously on May 15, 2024, analysts from Kaiko predicted that declining bitcoin network fees could lead to increased selling pressure from miners.

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