Bitcoin (BTC) is currently trading around $103,335, with a slight increase of 0.07% in the past day. It has traded between $102,811 and $104,976 in the last 24 hours. Some analysts believe Bitcoin faces resistance at $105,000, and breaking above this level could lead to $110,000. Softer U.S. inflation data is boosting hopes for Federal Reserve rate cuts, which is positively impacting Bitcoin's price. Bitcoin's correlation with U.S. stocks is weakening, enhancing its appeal as a diversification asset.