Currently, investors generally expect Bitcoin (BTC) to break through the important psychological barrier of $70,000. This expectation is evident from the large amount of unrealized profits, and many holders are not in a hurry to sell Bitcoin, but are waiting for the price to rise further.

According to calculations by CryptoQuant analysts, the Bitcoin market has accumulated more than $7 billion in unrealized profits. If investors start to sell on a large scale to realize profits, it may cause the price to fall, as the sudden drop in prices at the end of July did. However, the market sentiment remains optimistic and the Bitcoin price remains relatively stable.

The Bitcoin price has reached $68,350, which is only 2.4% away from the target of $70,000. It is approaching the resistance range of $69,400 to $71,500. The most recent peak in exchange inflows and outflows occurred between October 13 and 16, after which the trading flow has continued to decline and is currently at a yearly low.

Although 3,760 Bitcoins were transferred out of exchanges recently, 3,940 Bitcoins also flowed in, indicating that the inflows to exchanges are slightly higher than the outflows.

Since mid-October, the number of addresses actively sending Bitcoin has been decreasing, while the number of addresses receiving Bitcoin has been increasing, from 379,545 on October 13 to 625,308 on October 18. This indicates that more people are buying Bitcoin than selling it, and the increase in receiving addresses and the decrease in sending addresses further illustrate that despite the rise in Bitcoin prices, selling pressure is decreasing.

These changes in address activity indicate that despite the recent rise in Bitcoin prices, market selling pressure is decreasing. Although this seems to be a sign that Bitcoin will continue to rise, market sentiment and trader behavior remain key factors affecting prices. Investors should remain cautious and pay close attention to market dynamics.