🎉 Bitcoin transaction fees have hit a low not seen since the peak of the pandemic in 2020, averaging $38.69 on July 7th. This drop is due to lower demand for block space and data volume. Despite the lower fees, Bitcoin miners are still turning a profit thanks to reduced network difficulty. However, CryptoQuant suggests miners are showing signs of "capitulation" as profit margins tighten and the BTC price hovers near $50,000. This is reflected in a 7.7% drop in Bitcoin's hashrate and a 63% decline in daily revenues since the halving. Stay tuned, folks! 🚀