$BTC

While supply chain activity appears muted - with a decline in the number of transactions, minimal fees, and weak presence of retailers - this does not indicate weakness in the market. Rather, it reflects a radical shift in how Bitcoin is being used.

📊 Key Insights:

— Nearly 90% of Bitcoin volume now comes from transactions over $100,000.

— The average transaction size has risen to over $36,000.

— This highlights Bitcoin's evolving role as a high-value settlement layer for institutions, rather than being a network dominated by retailers.

The retail sector may be marginalized at the moment, but the foundation being laid by the larger players suggests something bigger is brewing beneath the surface. Patience often precedes equivalent action here.