Bitcoin opens $63K futures gap as thin liquidity threatens BTC price

“Had a great push into the market close yesterday,” popular trader Daan Crypto Trades“While I am liking how the charts are shaping up on the higher timeframes, I'll be patient and not start adding on green candles during the weekend. Will see how this plays out.”An accompanying chart showed a clear divergence from the latest CME Group Bitcoin futures closing price, creating a “gap” which BTC/USD tends to fill later on.

Despite the impressive weekend performance, some were concerned about the overall strength of the market in the absence of TradFi participation.that a correction could easily come thanks to thin order book liquidity. “Looking for bid liquidity to replenish to keep this rally going,” he told X followers retweeting an order book chart from Material Indicators.BTC/USDT order book liquidity on Binance. Source: Material Indicators/Xhis market views, meanwhile, popular trader and commentator Credible Crypto said that conditions may favor going short BTC below “main resistance” around $69,000.

“Green path is ideal. We hold the local highs we broke above and continue up to the major resistance. This will allow me to fill shorts on a number of alts across the board. Red path is not ideal. We fail to hold this reclaim, see an ‘early’ breakdown, and ideal short zones for most alts I'm eyeing up are not met,” he wrote.Credible Crypto added that long BTC positions would be of interest should BTC/USD dip below $56,000.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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