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Bitcoin’s network still looks like a bitcoin network ghost town on Friday, with block-space demand stuck near floor levels even as price stays firm and U.S. spot ETF demand keeps support flowing through regulated products instead of the base layer.
TLDR Keypoints
- BTC Network’s March 19-26 block-space report showed the median fee-rate falling from 1.13 sat/vB to 1.00 sat/vB.
- Fees were only 0.56% of miner revenue, versus a 3,212.5 BTC block subsidy.
- Mempool fee estimates on Friday still sat at 4 sat/vB fastest and 1 sat/vB minimum.
Bitcoin Fee Pressure Still Looks Muted
BTC Network’s March 19-26 report said the median fee-rate opened at 1.13 sat/vB and closed at 1.00 sat/vB, a sign users were barely competing for space in blocks. The same report said users paid 18.03 BTC in fees across 1,028 blocks, which keeps the ghost-town framing tied to measured demand rather than sentiment.
Transaction fees made up just 0.56% of miner revenue, while the block subsidy contributed 3,212.5 BTC over the same stretch. That 0.56% fee share matters because miners were still relying overwhelmingly on subsidy income, not fee competition, for revenue.
Mempool’s recommended fee rates on Friday still showed 4 sat/vB for fastest confirmation, 3 sat/vB for half-hour and hour targets, 2 sat/vB for economy, and 1 sat/vB as the minimum. That live snapshot fits the same muted base-layer picture even as projects keep pushing Bitcoin usability across ecosystems as a growth theme.
ETF Demand Is Supporting Price Off-Chain
Farside’s daily table showed $358.1 million in net U.S. spot Bitcoin ETF inflows on April 9, 2026, even while the base layer stayed quiet. That $358.1 million daily inflow is the clearest verified sign that demand is arriving through SEC-approved wrappers rather than through heavier on-chain usage.
Bitcoin still traded around $73,105, up 1.06% over 24 hours, with roughly $38.99 billion in 24-hour volume. That split between stable price action and thin block-space demand echoes the recent setup when U.S. inflation jumped to 3.3% and Bitcoin barely moved.
What The Divergence Means Now
The Fear and Greed Index printed 16, or Extreme Fear, on April 10, 2026 UTC. Paired with the still-low 4 sat/vB fastest fee, that sentiment reading suggests price strength has not yet broadened into urgent organic demand.
Glassnode’s Week 13 note made the same point more directly, arguing that the market remains short of a catalyst strong enough to turn firm price action into a durable breakout. For traders watching whether BTC can reclaim $81.6K, that matters because ETF demand and network demand are still sending different signals.
“Without a clear catalyst, the market lacks the conviction needed for a sustained breakout.”
Glassnode
The next read is whether price can hold near $73,105 while on-chain fees climb out of the 1 to 4 sat/vB range. If that gap stays in place, miners remain dependent on subsidy-heavy revenue and the market may keep trading more like an ETF-driven tape than a busy settlement network.
Disclaimer: This content is for informational purposes only and does not constitute investment advice.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
