BTC Weekly On-chain status; High volatiliy with sharp increase in transaction fees
According to Xangle, the global crypto disclosure platform, on-chain transactions and network activities showed high volatility this week. Sharp increase in tx fees and negative impact on hash rate.
📉 Price: Weak performance on May 21st.
📉 Hash rate: Negative impact after 3rd halving on May 11th
📈 Transaction fee: Strong positive impact
📉 Transaction count: Weak performance
📈 Transaction volume: High volatility
📉 Relative Strength Index & Money Flow Index: Moved below OVERSOLD level & experiencing corrective pullback