Bitcoin onchain transaction fees have hit a six-month low, averaging $2.77 per transfer with variance depending on priority, presenting a decrease in costs for users executing transactions on the Bitcoin network.
Following Bitcoin's recent halving at block 840,000, the market saw significant shifts with onchain fees rising to $240 per transaction. The price of Bitcoin is currently at $64,488, reflecting a 4.5% decrease, highlighting the impact of supply and demand post-halving.