Bitcoin block size hits yearly low: Impact of BTC halving? https://yakihonne.s3.ap-east-1.amazonaws.com/953281df0361f1a7ff836841c2b978b8d606b035e7d07b8d148c72e50b4d78a7/files/1718807223507-YAKIHONNES3.webp 
The Bitcoin network has experienced a significant decline in its average block size and transaction rates, coinciding with a fall in price to around $64,100.

The drop in block size — the measure of transaction data included in each block — indicates a sharp fall in Bitcoin blockchain activity, which hit a yearly low on June 7. 

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 The BTC halving event reduced block rewards by 50% for miners, which can lead to decreased profitability and incentives to contribute to the blockchain's activity . As a result, the reduction in activity and potentially reduced miner profitability could be contributing factors to the decrease in block size. 

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