Bitcoin Is Crashing, But Why Are Transactions At New All-Time Highs

In a day when Bitcoin prices are crashing, posting worrying drops from April 2023 peaks, the underlying network is processing record transactions.
Bitcoin Prices Dropping, But Why?
Dune Analytics data on May 1 shows that the platform is processing record transactions which, if going by historical performance, would typically point to demand. In a normal scenario, this demand could translate to buying pressure.
However, as seen in the chart below, the spike in the activity on the Bitcoin network