Fees up. Transactions down. Bullish or bearish?

Bitcoin tx fees just hit a 2025 high at $2.40.

Yet daily txs dropped 35% since April.

Looks bearish? It's not.

High fees + fewer txs = higher-value usage.

> Retail cools off. Whales move.

> Meanwhile, illiquid supply hits ATH.

> $BTC is disappearing from exchanges.

This isn’t weakness.

It’s the calm before the supply shock.

Smart money is front-running the next leg up. Don’t fade it.