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Bitcoin transaction fees hit a new high for the year, and non-liquid supply reached an all-time high.
The 7-day average transaction fee on the Bitcoin blockchain has risen to $2.40, up about $1 since early May, marking a new high for the year. Glassnode data shows that the long-term dormant BTC "non-liquid supply" has reached an all-time high. Meanwhile, Bitcoin's market dominance has rebounded after a previous decline, which may indicate that its short-term pullback relative to other crypto assets is more influenced by liquidity rather than a structural shift in the market towards altcoin season. (TheBlock)