NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Bitcoin (BTC) Continues Downtrend Despite Daily Transactions Nearing All-Time High

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
dYdX Sees Sudden Decline

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

While Bitcoin (BTC) has continued a downtrend, the asset has recently recorded a high volume in daily transactions nearing its all-time high. According to a report by on-chain analytics provider Glassnode, “Bitcoin daily transaction counts are approaching All-time-highs, seeing an explosive uptick in 2023.’

Regardless of this news, Bitcoin has continued to move downward after its weekend plateau of trading at just between $29,300. The asset trading volume has also surged slightly indicating a possible violent sell-off.  

Bitcoin Records Daily Transactions Nearing Peak Levels

According to Glassnode, on the 30-day moving average, Bitcoin daily transactions have reached an amount of 348,700. While the peak level which was seen in 2017 remains at 379,000 transactions per day. This has proved Bitcoin’s daily transactions are beginning to near the all-time high last seen about 5 years ago.

Bitcoin (BTC) daily transaction count.
Bitcoin (BTC) daily transaction count. | Source: Glassnode

Furthermore, according to the Glassnode report, this surge in Bitcoin daily transactions is thanks to the Ordinal inscriptions. The Ordinal inscriptions also known as Bitcoin non-fungible tokens (NFTs), or Ordinals, are inscriptions (digital artifacts) inscribed on satoshis (sats) – little units of Bitcoin.

Glassnode noted the inscription accounts for approximately 30% to 40% of mined transactions and 10% to 20% of fees paid. Meanwhile, the remaining majority of transactions are monetary in nature, frequently conducted through exchanges. 

According to Glassnode, compared to Ordinals activity on the Bitcoin blockchain, BTC exchange activity is relatively low, representing roughly 30% of fees and transactions.

The trend of creating inscriptions initially gained popularity in February when users started inscribing NFTs on satoshis. However, the recent resurgence has been dominated by inscriptions that are based on text.

Glassnode noted:

Bitcoin transaction counts, address activity, Inscriptions, and Mempool congestion are all elevated. As is the degree of HODLing, and supply acquired below $30k. Conviction remains.

BTC Continues Downtrend

Bitcoin (BTC) is yet to make any significant move in the past few days. Instead, it has only seemed to pick up from where it left off in its downward trend in recent weeks. Over the past 24 hours, the top crypto has plummeted nearly 4% with a market price of $28,435, at the time of writing. 

Bitcoin (BTC) price chart on TradingView
Bitcoin’s (BTC) price moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

This downtrend follows a notable fall from the $30,000 region in recent weeks. So far, Bitcoin has a 24-hour range between a low of $28,315 and a high of $29,944.

Meanwhile, the BTC market cap is still in the green while its trading volume signals selling pressure, indicating a possible continuous bearish trend. 

Over the past week, Bitcoin’s market capitalization has surged from a low of $528 billion on April 24 to as high as $550 billion as of today. Its trading volume has also spiked from a daily trading volume of $15.4 billion to $19.8 billion, over the same time period.

Featured image from Unsplash, Chart from TradingView

Tweet123Share196ShareSend
Samuel Edyme
Samuel Edyme

Samuel Edyme

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Hyper Best Crypto to Buy Now as Short Squeeze Brewing and U.S. Inflation Data Looms

What to Know: There is a large concentration of liquidity above the current $BTC price, suggesting a short squeeze could...

Aaron Walker 2 hours ago
Crypto news

Crypto Bulls Beware: Friday Could Be Crucial — Here’s Why

A rare confluence of macro catalysts will put risk assets—and by extension crypto—on edge this Friday. The US Bureau of...

Jake Simmons 2 hours ago
Bitcoin

Bitcoin koers breekt Nasdaq correlatie – BTC koers verwachting Q4 2025

De bitcoin koers heeft een historisch moment bereikt. Voor het eerst in bijna drie jaar is de correlatie met de...

Lars Diederiksen 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

The Bitcoin OG Is Back – Opens Massive Short After $30M USDC Deposit

The Bitcoin OG Is Back – Opens Massive Short After $30M USDC Deposit

Sebastian Villafuerte 46 minutes ago

Vitalik Buterin décrypte gkr : ce que le nouveau protocole change pour Ethereum

evanss 1 hour ago
Bitcoin : 3 facteurs annoncent un bull run vers 130 000 $ — repères techniques et macro

Bitcoin : 3 facteurs annoncent un bull run vers 130 000 $

evanss 2 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめ:政府閉鎖で注目高まるCPI発表と次回利下げを巡るFRBの動き

    ...

    3 hours ago
  • ドージコイン 今後の価格予測:0.86ドル到達の可能性、次世代ミームトークンが10倍成長か

    ドージコイン...

    4 hours ago
  • リップル 今後 に注目:オプション市場の強気転換が示すBTC・ETHからXRP・SOLへの資金移動

    リップル 今後...

    4 hours ago
  • 新しい仮想通貨が急上昇:レイヤー2プレセールで2,500万ドル目前

    ...

    4 hours ago
  • コインベース市場回復前に注目すべき仮想通貨プレセール銘柄

    ...

    4 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.