Bitcoin's price has experienced a significant surge, reaching a high of $64,500 on May 4. This marks a new peak for the month, with a 5% increase in value since the beginning of May. However, market participants are expressing doubts about the sustainability of this relief bounce, citing concerns over thin liquidity and a lack of participation from traditional financial institutions (TradFi).

Despite the impressive weekend performance, some experts warn that the current market conditions may not be robust enough to support a prolonged price increase. The absence of TradFi participation, in particular, has raised concerns about the market's ability to absorb potential shocks.

Meanwhile, an analysis of the CME Group Bitcoin futures market reveals a gap in pricing, which may be filled later. This gap, created by the recent price action, has sparked debate among traders and analysts about the likelihood of a correction.

In other news, the co-founder of BTC-e, Alexander Vinnik, has pleaded guilty to a $9 billion money laundering conspiracy. This development highlights the need for regulatory compliance in the crypto industry and serves as a reminder of the risks associated with unregulated exchanges.

As the market continues to evolve, traders and investors are advised to exercise caution and conduct thorough research before making any investment decisions. The crypto market is known for its volatility, and prices can fluctuate rapidly, making it essential to stay informed and up-to-date with market developments.