Bitcoin transaction fees as a percentage of miner rewards have fallen below 1%, hitting a three-year low

According to foreign media reports, as of mid June, Bitcoin transaction fees accounted for only 0.96% of block rewards, the lowest level since January 2022. Despite the BTC price surpassing $100000, the decrease in on chain trading activity has led to a sharp decline in miners' trading income. The current average transaction fee is only about $1.45 per transaction, lower than past peaks. Miners' profits continue to be under pressure, with hash prices and fees falling, forcing some mining companies to sell BTC to maintain operations.