$BTC The price of Bitcoin has bounced back to nearly the threshold of 104,000 USD, even briefly approaching the 105,000 USD mark, supported by a series of positive factors including new inflation data, optimistic trade prospects between the US and its partners, as well as information that Coinbase's stock will join the S&P 500 index.

Although the price of Bitcoin is less than 5% away from returning to the peak level in January, experts from the Bitfinex exchange believe that speculative phenomena have not yet clearly emerged, although funding rates and trading volumes remain stable.

However, experts warn that 104,000 - 106,000 USD is currently a strong resistance area, making the likelihood of Bitcoin accumulating in the short term quite high. The important support level is around 98,000 USD.

"The price of Bitcoin has risen sharply in recent weeks, therefore this cryptocurrency may soon enter a consolidation phase before establishing a new all-time high, hopefully around the summer months when supply and demand stabilize around the 100,000 USD region," Bitfinex analyzed.

Looking further ahead, Bitfinex maintains a positive outlook for the medium to long-term prospects of Bitcoin, setting a price target of 150,000 - 180,000 USD for the period of 2025 - 2026.

"The long-term prospects of Bitcoin are currently brighter than ever. With supportive signals from governments and organizations, the expanding global ETF network, along with hopes for a positive shift in policy, Bitcoin is gradually becoming a macro reserve asset globally," the report concluded.

Along with the growth trend of Bitcoin, the majority of altcoins also accelerated, most notably Ethereum, the second-largest cryptocurrency, which "jumped" nearly 9% to 2,632 USD.