Bitcoin On-Chain Metrics Signal Institutional Accumulation

Looking at today's on-chain data from Anacryte:

Transactions stable at 3,592 (24h)
Fees slightly increased to 0.00001807 BTC (+2.6%)
Block size averaging 1.54 MB (+2.9%)
Unique addresses: 8,617 (+1.2%)

The sporadic fee spikes visible in the 7-day chart suggest strategic institutional operations rather than retail FOMO. With SegWit adoption at 92.37% and Taproot reaching 26.34%, network efficiency continues improving despite increased activity.

Trading implications: Market consolidation phase with minimal congestion signals. No immediate surge indicators, but fundamentals strengthening for potential mid-term appreciation when catalysts emerge.

What's your take on the current market phase?

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