Bitcoin (BTC) surged to $64,500 on May 4 during out-of-hours trading, resulting in fresh price gains. Data from Cointelegraph Markets Pro and TradingView confirmed that the price reached a new local high of $64,522 on Bitstamp, marking a new peak for May. The strength seen in United States employment data contributed to the price increase, along with positive signals of crypto market recovery, such as the first inflows for the Grayscale Bitcoin Trust (GBTC) in nearly three months. At the time of writing, BTC/USD was up 5% for the month, contrasting with April’s losses of 15%. Some traders expressed concerns about the market’s overall strength without participation from traditional finance (TradFi). Keith Alan, co-founder of trading resource Material Indicators, warned that a correction could occur due to thin order book liquidity. Popular trader and commentator Credible Crypto suggested that going short on BTC below the “main resistance” at around $69,000 might be favorable. However, he also mentioned that long positions would be of interest if BTC/USD dipped below $56,000. It’s important to note that this article does not provide investment advice or recommendations, and readers should conduct their own research before making any decisions.
BTC price threatened by thin liquidity as Bitcoin futures create $63K gap