Bitcoin has recently surpassed the $104,000 mark, recovering above this level for the first time in over three months. This resurgence follows a 32% decline from its all-time high in January. The recovery is attributed to favorable macroeconomic conditions, including a new trade agreement between the United States and other partners. Despite some fluctuations, with Bitcoin briefly dropping below $102,000 and a potential risk of $996 million in long liquidations if it falls below $101,000, the cryptocurrency has managed to maintain levels above $103,000. The climb above $103,000 also poses a risk to short positions, with approximately $247 million in shorts potentially being wiped out. Alongside Bitcoin's recovery, Ethereum has also seen gains, reaching $2,600.