Transaction fees on the BNB Chain (BSC) network, As of February 23, it fell to 593 thousand dollars, reaching its lowest point since August 2025. This silence on one of the busiest main roads of the crypto world. It brought to mind among investors the period of “demand dryness” that triggered the massive 95% rally in Bitcoin last year. This table, shaped by data from analyst Amr Taha and various financial institutions, It proves that the market has entered a strategic breathing phase before a sharp change in direction.
Energy Accumulated in Blockchain Data and Traces of the Past
Transaction fees in the blockchain ecosystem, It is considered the most concrete indicator of real user demand and speculative appetite on the network. costs on BSC, 1 on August 7, 2025Falling even below the bottom level of 07 million dollars, It documents the end of network congestion and the temporary withdrawal of individual attention. When historical cycles are examined, After similar periods of stagnation, it seems that the Bitcoin price has achieved historical increases by gaining momentum from the 55 thousand dollar band.
Another noteworthy element in the current market structure is It is a sharp decline in the realized market value of Bitcoin short-term holders. This data decreased to 386 billion dollars on February 24. It remains below the low level of $440 billion in April 2025, indicating that there is a serious phase of surrender in the market. Analysts, He emphasizes that such sharp contractions usually complete bottom reversal formations and the price creates a new basis on the way to the record level of 126 thousand dollars.
The fund flow rate on Binance is 0,It remains at a very low level such as 012, It reveals that a panic-induced selling pressure is not on the table. While Bitcoin is trying to hold on at $68 thousand levels, No massive inflows to spot exchanges, It proves that the current declines are mostly related to the clearing of leveraged positions. Although demand metrics are not yet showing a determined upward trend, Sellers’ fatigue keeps the possibility of recovery on the table.
Clearance and Option Risks in the Derivatives Market
Rapid decrease in open interest in the Bitcoin futures market, It points to a purification process in which the speculative burden on the cryptocurrency is shed. Data shared by XWIN Research Japan, recent price declines are due to aggressive spot sales rather than He states that it is triggered by liquidations and deleveraging in the derivatives market. This kind of structural reset It prepares the ground for a healthy balancing in the market and removes the obstacles to a possible future rise.
According to Coinbase Institutional reports, the “negative gamma” band, concentrated between 60 thousand and 70 thousand dollars in the options market, It keeps the risk of short-term volatility alive. Hedging activities of market makers, If the price falls below 60 thousand dollars, it may trigger a mechanism that can accelerate sales. However, if spot volume support becomes stronger, The pressure in this region may reverse and act as an upward catalyst.
Currently, Bitcoin is approximately 46% behind its peak. While creating an opportunity area for institutional investors, Strong spot volume data is expected for a permanent return. Market participants, While watching the silence brought by low transaction fees, On the other hand, it is waiting for the liquidity balance to be re-established. At this critical juncture where historical signals are reaffirmed, How long the accumulation phase lasts will determine the timing of the cryptocurrency’s next big move.
