In what has sparked curiosity and concern in the crypto community, a Bitcoin user recently paid a staggering 1.0 BTC, worth $120,381 in transaction fees, according to blockchain tracker Whale Alert. The unusually high fee was tied to a single Bitcoin transaction, sparking interest in the crypto community. 💸 A fee of 1.0 #BTC (120,381 USD) has just been paid for a single transaction!https://t.co/1TctuBjO5V — Whale Alert (@whale_alert) May 22, 2025 While transaction fees are typically just a few dollars or less, even during network congestion, a 1 BTC fee stands out as a major anomaly. Some speculate it could be an error in manually setting the fee, a calculated whale move to make a statement or even testing the network, but the real explanation is unknown as of press time. A closer look at the transaction on the Whale Alert platform suggests it could be an error, given the quantity of BTC moved by the wallet — less than 1 BTC. Regardless of the reason, the transaction underscores the importance of double-checking fee settings before taking action. This is not the first time such occurrences have happened. In December, a Bitcoin user paid an exorbitant 8.18 Bitcoin (worth $808,564 at the time) for a single transaction, while only moving 0.142 Bitcoin. Bitcoin hits new record highs Bitcoin continued to soar on Thursday, reaching a fresh record high above $111,000. Bitcoin reached $111,903 in early trading hours before trimming some of its gains to trade up 4.01% in the past 24 hours to $110,536, according to CoinMarketCap data. Despite a slump in U.S. stock markets on Wednesday, the price of the world's largest cryptocurrency is rising. Bitcoin has historically correlated with equities markets, particularly the technology-heavy Nasdaq. JPMorgan CEO Jamie Dimon, a noted Bitcoin skeptic, announced that the bank will allow customers to purchase the digital currency, adding to the positive news for crypto.