$BTC
Bitcoin Network Fees Surge According to a report by Centora (formerly IntoTheBlock), the weekly fees on the Bitcoin network experienced a significant surge, increasing by 105.8% to reach $6.8 million. This dramatic increase highlights the intensification of activity on the Bitcoin blockchain. ## BTC Outflows from Exchanges Coinciding with the surge in fees, BTC worth $2.09 billion flowed out of cryptocurrency exchanges in the same week. This outflow may indicate a shift in investor sentiment, with more people possibly moving their Bitcoin assets to long-term storage or self-custody solutions. The increase in network fees and the significant outflows from exchanges indicate a growing demand for Bitcoin and potential accumulation by investors. The rise in network activity may also be related to increased transaction complexity associated with Ordinals or BRC-20 tokens. ```
