Bitcoin transaction fees hit a new high this year, and illiquid supply hit a new high

Odaily News The 7-day average transaction fee on the Bitcoin chain rose to $2.40, up about $1 from the beginning of May, a new high for the year. Glassnode data shows that the long-term BTC "illiquid supply" has reached a record high, which means that the number of BTC available for trading on exchanges has decreased. Once demand rises in the future, it may trigger a supply shock and further push up prices. At the same time, 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 affected by liquidity rather than the market's structural shift to the "altcoin season." (TheBlock)