BTC is close to setting a transaction record (30-DMA).

What’s particularly striking is that this is happening as the BTC correction accelerates sharply.

June is showing an underperformance of roughly -19% as I write this.

The average monthly transaction count now stands at around 640,000.

The last time this figure was reached in BTC’s entire history was during the 2024 correction, when 666,000 transactions were recorded in September.

This dynamic is somewhat unusual for this cycle, as previously rising transaction counts tended to coincide with bullish phases or market tops.

Today I would argue this is more of a capitulation episode and a significant change of hands.

One of the most significant in BTC’s history.

Written by Darkfost