Bitcoin: Miner Fees Hit Lowest Since 2019

Bitcoin annual transaction fees earned by miners over the trailing twelve months just reached their lowest level since 2019, underscoring collapsing on-chain demand even as block rewards continue to halve every four years.

Every major public BTC miner now redirects capacity toward AI workloads because fee revenue offers no viable replacement for subsidy income, a structural problem that must reverse for long-term network security. This metric has historically bottomed precisely at bear-market troughs when retail interest evaporates.

BTC trades at $61415.73 inside its Bollinger Bands with price pressing the lower band support at $60825.84 while the EMA50 at $64284.44 and EMA200 at $71529.3 both act as overhead resistance; the MACD death cross at -490.8 keeps momentum bearish and RSI at 40.63 leaves room for further downside before any relief rally materializes.