#BitcoinHits75k El Tuesday, March 17, 2026, the price of Bitcoin reached a recent high of $75,800, surpassing the psychological barrier of $75,000 for the first time since February. We believe this rally represents a recovery of nearly 25% from the February lows, driven primarily by a combination of technical and geopolitical factors.
The liquidation of put options was a large number with strike prices of $55,000 and $60,000 (betting on a price drop) that were close to expiring, forcing market makers to buy Bitcoin to balance their positions, thus driving the price increase.
I also believe that the easing of tensions between the United States and Iran and the signs of reopening major trade routes like the Strait of Hormuz boosted risk appetite in global markets.
Another sector that has recovered is the institutional area, reliable sources of demand, including capital inflows into Bitcoin ETFs and purchases by corporate treasury units like Metaplanet, have been in a better position.
Regarding technical analysis, we must point out that there is a new support level; analysts believe that the area between $73,750 and $74,400, which previously acted as resistance, could now become support.
If prices remain above $75,000, the path towards the range of $78,000 to $80,000 will become more evident.
Note: Some analysts warn that this rally could be fragile if a significant influx of new buyers does not occur once the covering pressures ease.
$BTC 🪙
$WBTC 🪙