Bitcoin transaction fees hit a new high for the year, illiquid supply reaches a new high

The 7-day average transaction fee on the Bitcoin chain rose to $2.40, an increase of about $1 since early May, setting a new high for the year. Glassnode data shows that the long-term stagnant BTC 'illiquid supply' has reached an all-time high, indicating that the supply of BTC available for trading on exchanges has decreased. If demand rises in the future, it could trigger a supply shock, further driving up prices. At the same time, Bitcoin's market dominance has rebounded after a previous decline, which may indicate that its short-term pullback relative to other crypto assets is more influenced by liquidity rather than a structural market shift towards 'altcoin season'. $BTC