Viewpoint: The maturity stage of the Bitcoin network is reflected by the stability of fees after the halving

ChainCatcher message, since the beginning of 2024, Bitcoin transaction fees have shown a pattern of volatility, with significant spikes occurring around major events. The most notable surge happened in April, related to the Bitcoin halving event. During this period, transaction fees briefly soared to over 1,200 BTC, highlighting the increased demand on the network during this critical time. After the halving, fees tended to stabilize but remained relatively subdued, even as Bitcoin's price approached $60,000. This contrasts sharply with previous years, where fee spikes often reflected rapid price increases or network congestion.

For instance, during the bull markets of 2017 and 2021, transaction fees surged alongside Bitcoin's price, reflecting intense activity and congestion on the network. The current trend is that, despite significant price fluctuations, fees remain low, indicating a mature network where transaction processing may be more efficient. As 2024 progresses, observing whether this decoupling of fees and Bitcoin prices persists can provide deeper insights into the evolving market trends and user behaviors within the ecosystem.