Bitcoin surged above $63,000 on May 10, surpassing $100 million in liquidity despite facing previous lows. The cryptocurrency reached a peak of $63,876 before stabilizing at centralized exchanges.

Market indicators indicate significant sell liquidity in futures order books around the $63,000 to $65,000 range. Dense liquidity typically favors one side in such situations.

Material Indicators also highlighted potential support levels, with $58,000 showing stronger bid liquidity compared to $60,000, suggesting bullish sentiment temporarily.

Notable points to consider include potential resistance above $63,000, observing $58,000 and $60,000 levels for short-term stability, and the critical role of the 21-week SMA at $56,127 in maintaining current price levels.

If Bitcoin's price falls below the 21-week SMA, there may be a drop to around $52,000, potentially shifting market sentiment. Despite recent volatility, Bitcoin has maintained its lower range as support, and patterns from previous cycles remain consistent without significant changes due to the block subsidy halving event.