Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin ready for price discovery after $ 109,000 breakout

2025-05-22

.Zil: a pioneer of onchain domains

2025-05-22

Analyst predicts huge Bitcoin outburst based on one gold graph, sees the Altcoin market following

2025-05-22
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Validation Cloud implements AI -Engine on Hedera

    2025-05-22

    Sony announces the Mavet launch of Soneium Blockchain

    2025-05-21

    Nitro Labs launches data anchor to lower the storage costs of Solana

    2025-05-21

    Zimbabwe rolls out blockchain-based carbon credit market system

    2025-05-21

    Kalp Network Partners with Luffa to stimulate Web3 Privacy and RWA access

    2025-05-21
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Analyst predicts huge Bitcoin outburst based on one gold graph, sees the Altcoin market following

    2025-05-22

    Bitcoin price rays to New All Time Bulls takes the lead

    2025-05-22

    Mike Novogratz says that weakening dollars, broadening the shortage and the deteriorating financial situation of America ‘very good’ for Bitcoin and Crypto

    2025-05-21

    Does the XRP price mirror the Rally of 2017? Analyst points to agreements

    2025-05-21

    Bitcoin breaks $ 109k ATH to enter the price discovery again

    2025-05-21
  • Learn

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Bitcoin woes continue amid waning transactions, slumping fees
Bitcoin

Bitcoin woes continue amid waning transactions, slumping fees

2023-08-27No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • Due to a steady decrease in daily transactions on the Bitcoin network, network fees dropped by over 15% in the last seven days.
  • With strong resistance faced at $26,000, BTC accumulation has decreased.

The average transaction fee on the Bitcoin [BTC] network dropped by more than 15% in the past week to around $0.85 by 26 August. This represented its lowest level since 30 July, data from IntoTheBlock revealed. 

Bitcoin fees have dropped by more than 15% this week as the number of transactions has slowed down. pic.twitter.com/8WSdgvYRiu

— IntoTheBlock (@intotheblock) August 26, 2023


How much are 1,10,100 BTCs worth today?


The drop in fees were due to a slowdown in the number of transactions on the network. According to data from Blockchain.com, the count of daily transactions on the Bitcoin network plummeted severely following the deleveraging event of 17 August. Within the 24 hours of the capital exodus, the daily transaction count on the network had dropped by over 15%.

As of 26 August, the number of daily confirmed transactions on the Bitcoin network totaled 497,513. 

Source: Blockchain.com

The coin’s price continues to stagnate at $26,000

At press time, the price per BTC was $26,026, according to data from CoinMarketCap. After exchanging hands briefly above $26,500 on 23 August, the leading coin’s price corrected and has since traded under $26,100.

The emergence of a new bear cycle on 16 August, a day before the deleveraging in the coin’s futures markets, has caused BTC to face further resistance at the $26,000 price level. As positive sentiment remains beaten down, accumulation momentum amongst daily traders has fallen.

See also  Why Bitcoin's latest milestone may do little to support BTC bulls

With the bear cycle still underway at press time, BTC’s MACD line remained positioned beneath its trend line. 

Highlighting the strength of BTC sellers in the current cycle, the coin’s Directional Movement Index (DMI) showed that BTC bears had control of the market on a daily chart. As of this writing, the positive directional index (green) at 13.16 rested below the negative directional index (green) at 29.27.

Moreover, the Average Directional Index (ADX) was 31.64.  An ADX reading above 25 indicates that the trend is strong. This often signals that the price is moving in a clear direction and is likely to continue to move in that direction.


Realistic or not, here’s BTC’s market cap in ETH terms


In this case, the BTC sellers have overpowered those interested in buying the coin, and its price might continue to linger below $26,500 until sentiment improves.

As the market mulls over the coin’s next price direction, accumulation has dwindled significantly. Key momentum indicators showed that BTC was oversold, as many take to “dumping” their bags to prevent exposure to any further price drops. The coin’s Relative Strength Index (RSI) was 24.68, while its Money Flow Index (MFI) was 14.73.

Source: BTC/USDT, TradingView

 



Source link

Bitcoin continue Fees slumping transactions waning Woes
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin ready for price discovery after $ 109,000 breakout

2025-05-22

Analyst predicts huge Bitcoin outburst based on one gold graph, sees the Altcoin market following

2025-05-22

Strive Eyes 75,000 Mt. Gox bitcoin to build treasure chest prior to merger

2025-05-22

The price of Bitcoin affects ATH of $ 111,000 if open interest rises to $ 72 billion – details

2025-05-22
Add A Comment

Comments are closed.

Top Posts

FTX Operator Transfers 5,000 ETH Ahead of Ether Futures ETF Launch

2023-09-30

China promises to boost NFT, decentralized application development, despite ban on crypto trading

2023-12-20

Weekly NFT sales rise 17%, while Bitcoin climbs back to second place in volume

2024-02-24
Editors Picks

Blur;s Airdrop Shaped Inorganic Surge in 2023 NFT Trading: Report

2023-05-19

What are Babydoge -Properties?

2025-05-09

Coinbase Says Crypto Industry Super PAC Raised Over $78,000,000 to Help Elect Friendly Candidates in the US

2023-12-18

Bitcoin ETF Options Receive SEC Approval – Is Wall Street Finally Embracing Crypto?

2024-10-23
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin ready for price discovery after $ 109,000 breakout

.Zil: a pioneer of onchain domains

Analyst predicts huge Bitcoin outburst based on one gold graph, sees the Altcoin market following

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$110,616.164.10%
  • ethereumEthereum(ETH)$2,685.586.36%
  • tetherTether USDt(USDT)$1.00-0.04%
  • rippleXRP(XRP)$2.454.42%
  • binancecoinBNB(BNB)$686.105.44%
  • solanaSolana(SOL)$180.007.16%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2435938.01%
  • cardanoCardano(ADA)$0.818.22%
  • tronTRON(TRX)$0.2761362.28%
  • suiSui(SUI)$4.168.86%
  • chainlinkChainlink(LINK)$16.736.67%
  • hyperliquidHyperliquid(HYPE)$31.2918.46%
  • avalanche-2Avalanche(AVAX)$24.599.29%
  • stellarStellar(XLM)$0.3025475.17%
  • shiba-inuShiba Inu(SHIB)$0.0000156.90%
  • bitcoin-cashBitcoin Cash(BCH)$438.0310.46%
  • hedera-hashgraphHedera(HBAR)$0.2046244.92%
  • unus-sed-leoUNUS SED LEO(LEO)$8.860.73%
  • the-open-networkToncoin(TON)$3.205.35%
  • polkadotPolkadot(DOT)$4.946.58%
  • litecoinLitecoin(LTC)$99.334.54%
  • moneroMonero(XMR)$400.7610.49%
  • bitget-tokenBitget Token(BGB)$5.323.68%
  • pepePepe(PEPE)$0.0000159.56%
  • piPi(PI)$0.846.32%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • bittensorBittensor(TAO)$471.6313.85%
  • uniswapUniswap(UNI)$6.575.73%
  • aaveAave(AAVE)$259.561.62%
  • nearNEAR Protocol(NEAR)$3.039.78%
  • aptosAptos(APT)$5.497.26%
  • ondo-financeOndo(ONDO)$1.028.90%
  • okbOKB(OKB)$53.382.75%
  • kaspaKaspa(KAS)$0.1171726.41%
  • ethereum-classicEthereum Classic(ETC)$19.887.89%
  • official-trumpOFFICIAL TRUMP(TRUMP)$15.075.63%
  • internet-computerInternet Computer(ICP)$5.627.67%
  • crypto-com-chainCronos(CRO)$0.1007234.55%
  • gatechain-tokenGateToken(GT)$21.751.10%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2526489.77%
  • vechainVeChain(VET)$0.0305838.36%
  • render-tokenRender(RENDER)$5.069.49%
  • mantleMantle(MNT)$0.763.89%
  • ethenaEthena(ENA)$0.42029310.87%
  • usd1World Liberty Financial USD(USD1)$1.000.10%
  • arbitrumArbitrum(ARB)$0.4329339.76%
  • algorandAlgorand(ALGO)$0.2410307.52%
  • filecoinFilecoin(FIL)$3.077.95%
  • bitcoinBitcoin(BTC)$110,616.164.10%
  • ethereumEthereum(ETH)$2,685.586.36%
  • tetherTether USDt(USDT)$1.00-0.04%
  • rippleXRP(XRP)$2.454.42%
  • binancecoinBNB(BNB)$686.105.44%
  • solanaSolana(SOL)$180.007.16%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2435938.01%
  • cardanoCardano(ADA)$0.818.22%
  • tronTRON(TRX)$0.2761362.28%
  • suiSui(SUI)$4.168.86%
  • chainlinkChainlink(LINK)$16.736.67%
  • hyperliquidHyperliquid(HYPE)$31.2918.46%
  • avalanche-2Avalanche(AVAX)$24.599.29%
  • stellarStellar(XLM)$0.3025475.17%
  • shiba-inuShiba Inu(SHIB)$0.0000156.90%
  • bitcoin-cashBitcoin Cash(BCH)$438.0310.46%
  • hedera-hashgraphHedera(HBAR)$0.2046244.92%
  • unus-sed-leoUNUS SED LEO(LEO)$8.860.73%
  • the-open-networkToncoin(TON)$3.205.35%
  • polkadotPolkadot(DOT)$4.946.58%
  • litecoinLitecoin(LTC)$99.334.54%
  • moneroMonero(XMR)$400.7610.49%
  • bitget-tokenBitget Token(BGB)$5.323.68%
  • pepePepe(PEPE)$0.0000159.56%
  • piPi(PI)$0.846.32%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • bittensorBittensor(TAO)$471.6313.85%
  • uniswapUniswap(UNI)$6.575.73%
  • aaveAave(AAVE)$259.561.62%
  • nearNEAR Protocol(NEAR)$3.039.78%
  • aptosAptos(APT)$5.497.26%
  • ondo-financeOndo(ONDO)$1.028.90%
  • okbOKB(OKB)$53.382.75%
  • kaspaKaspa(KAS)$0.1171726.41%
  • ethereum-classicEthereum Classic(ETC)$19.887.89%
  • official-trumpOFFICIAL TRUMP(TRUMP)$15.075.63%
  • internet-computerInternet Computer(ICP)$5.627.67%
  • crypto-com-chainCronos(CRO)$0.1007234.55%
  • gatechain-tokenGateToken(GT)$21.751.10%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2526489.77%
  • vechainVeChain(VET)$0.0305838.36%
  • render-tokenRender(RENDER)$5.069.49%
  • mantleMantle(MNT)$0.763.89%
  • ethenaEthena(ENA)$0.42029310.87%
  • usd1World Liberty Financial USD(USD1)$1.000.10%
  • arbitrumArbitrum(ARB)$0.4329339.76%
  • algorandAlgorand(ALGO)$0.2410307.52%
  • filecoinFilecoin(FIL)$3.077.95%