Bitcoin (CRYPTO:BTC) miners witnessed a brief surge in the hashprice, peaking at $95 per petahash on June 8, driven by a sudden increase in onchain transaction fees.

However, by the following day, fees had dropped significantly, leading to a sharp decline in the hashprice back to previous levels.

The rise in fees, reaching as high as $83.74 per transaction on June 7, was attributed to Okx's consolidation of transfers.

This rapid fluctuation emphaises the ongoing volatility of Bitcoin's economic landscape, posing both opportunities and risks for miners as they navigate the swiftly changing market conditions.