比特币减半后交易费用暴跌，但横盘交易即将到来

比特币第三次减半后，每笔交易的网络费用飙升至 128 美元，但此后暴跌至 9 至 10 美元。费用激增是由 Meme 币和 NFT 需求增加推动的，840,000 区块成为比特币历史上最昂贵的区块。尽管费用高昂，比特币的价格仍保持稳定，分析师预测未来几个月将出现一段横盘交易，矿商可能会出售价值 50 亿美元的比特币以弥补收入损失。

Bitcoin Network Fees Plummet Post-Halving, But Sideways Trading Looms

比特币网络费用在减半后暴跌，但横盘交易迫在眉睫

Days after reaching a record daily average of $128 during Bitcoin's fourth halving on April 20, network fees have experienced a significant decline. As of April 22, the average fee for a medium-priority transaction stands between $9 and $10, according to mempool.space.

在 4 月 20 日比特币第四次减半期间，日均费用达到创纪录的 128 美元，几天后，网络费用出现了大幅下降。根据 mempool.space 的数据，截至 4 月 22 日，中等优先级交易的平均费用在 9 美元到 10 美元之间。

Fees Soar, Then Subside

费用飙升，然后下降

In the lead-up to the halving, Bitcoin's network fees skyrocketed to over 24 times that of Ethereum. During the halving itself, the network processed approximately $78.3 million in fees, as per data from Crypto Fees.

在减半之前，比特币的网络费用飙升至以太坊的 24 倍以上。根据 Crypto Fees 的数据，在减半期间，网络处理了约 7830 万美元的费用。

Block 840,000 emerged as the most coveted block in Bitcoin's history, with an astonishing 37.7 Bitcoin worth $2.4 million paid to miner ViaBTC. The surge in demand was primarily driven by enthusiasts eager to mint rare satoshis using the Runes protocol, a novel token standard introduced during the halving block.

840,000 区块成为比特币历史上最令人垂涎​​的区块，向矿工 ViaBTC 支付了惊人的 37.7 个比特币，价值 240 万美元。需求激增主要是由渴望使用符文协议铸造稀有聪的爱好者推动的，符文协议是减半区块期间引入的一种新颖的代币标准。

This block alone accommodated 3,050 transactions, propelling the average network fee to an elevated $800. The above-normal fees persisted until block number 840,200.

仅这个区块就容纳了 3,050 笔交易，将平均网络费用推高至 800 美元。高于正常水平的费用一直持续到区块号 840,200。

BTC Price Stagnates, Sideways Trading Predicted

BTC价格停滞，预计横盘交易

Despite the surge in transaction fees, Bitcoin's price has remained relatively flat. In the past 24 hours, BTC has gained over 1% to trade at $66,167.52. This modest increase salvaged its weekly performance from dipping into negative territory.

尽管交易费用激增，但比特币的价格仍相对平稳。在过去 24 小时内，BTC 上涨超过 1%，交易价格为 66,167.52 美元。这种温和的增长挽救了其每周业绩跌入负值的境地。

Analysts at 10X Research anticipate continued sideways trading for Bitcoin, with the broader market facing a potential "six-month lull." They suggest that Bitcoin miners may liquidate up to $5 billion in Bitcoin in the coming weeks to compensate for lost revenue.

10X Research 的分析师预计比特币将继续横盘交易，大盘可能面临“六个月的平静期”。他们表示，比特币矿商可能会在未来几周内清算高达 50 亿美元的比特币，以弥补收入损失。

The surge in network fees during the halving temporarily mitigated the halving's impact on miners. However, with fees now subsiding, miners may resort to selling their holdings to avoid a sharp decline in their income. Markus Thielen, head of research at 10X Research, highlighted this possibility in an April 13 research note.

减半期间网络费用的飙升暂时减轻了减半对矿工的影响。然而，随着费用的降低，矿商可能会出售其持有的资产，以避免收入急剧下降。 10X Research 研究主管 Markus Thielen 在 4 月 13 日的研究报告中强调了这种可能性。

Conclusion

结论

Bitcoin's network fees have experienced a dramatic decline post-halving, while the cryptocurrency's price remains relatively stagnant. Analysts predict sideways trading in the near term, citing the potential for miner liquidations and the broader market's risk of a prolonged lull.

比特币的网络费用在减半后经历了急剧下降，而加密货币的价格仍然相对停滞。分析师预测，短期内交易会横盘整理，理由是矿商可能面临清算，且大盘面临长期低迷的风险。