Bitcoin moved above the $75,000 level on Monday evening, marking its strongest price since early February and extending a steady recovery that began after last month’s sell-off. The asset climbed as high as $75,937 on March 17, according to TradingView data, before holding near the $74,300 range.
The move followed several weeks of consolidation, where Bitcoin traded within a narrow band after falling to around $63,000 in February. That earlier decline came during heightened geopolitical tensions linked to the Iran–Israel conflict, which disrupted global markets and reduced risk appetite.
The latest breakout places Bitcoin nearly 25% above its February lows. The price action also pushed the asset through a key psychological level that traders have monitored since the start of the year.
Liquidations accelerate as short positions unwind
The rally triggered large liquidations across leveraged crypto markets. Data from CoinGlass shows that nearly $498 million in positions were liquidated over the past 24 hours. More than $330 million came from short positions, as traders who bet against Bitcoin closed their trades.
Bitcoin alone accounted for about $118 million of those short liquidations. The scale of the unwind reflects how bearish positioning had built up during the February correction.
Meanwhile, altcoins reacted with strong gains. Tokens such as MemeCore, FET, and Zcash posted double-digit increases during the session, which signals broader market participation rather than isolated Bitcoin strength.
Institutional demand supports the move
Demand from institutions has returned alongside the price recovery. SoSoValue data shows that U.S. spot Bitcoin ETFs recorded more than $201 million in inflows over the past day. That extends a six-day streak of positive flows, with nearly $1 billion entering these funds over that period.
Corporate accumulation has also continued. Strategy, led by Michael Saylor, disclosed the purchase of 22,337 BTC for approximately $1.57 billion. The company now holds 761,068 BTC, with a market value close to $50 billion.
JUST IN: Strategy added 22,337 $BTC at $70K avg.
— HodlFM (@Hodl_fm) March 16, 2026
They're sitting on hundreds of millions in unrealized profit already.
At what price does Saylor finally sell? pic.twitter.com/PD4DAFuWe9
In Asia, Metaplanet raised about $255 million from global investors to expand its Bitcoin treasury strategy. The firm also issued warrants that could lift total funding to more than $530 million for future purchases.
These developments show that large buyers have not stepped back during recent volatility.
Geopolitical shifts and macro focus shape sentiment
Bitcoin’s rebound has coincided with changes in the geopolitical backdrop. Markets reacted after signs of easing tensions around the Strait of Hormuz, a critical oil shipping route. BBC report confirmed that two commercial tankers passed through the waterway after Iran signaled that restrictions would target only certain vessels.
At the same time, oil prices have remained elevated, and macroeconomic uncertainty has not disappeared. Investors now focus on upcoming U.S. data, including producer price figures and the Federal Reserve’s interest rate decision. The policy outlook, along with comments from Jerome Powell, could shape risk appetite in the coming days.
Bitcoin has shown strength relative to traditional assets during this period. Gold has declined from recent highs, while major equity indices such as the S&P 500 and Nasdaq remain under pressure on a weekly basis despite short-term gains.
Technical levels remain in focus
Market structure shows that Bitcoin has reclaimed several key levels after the February drop. The asset moved back above $68,000, then $71,500 and $72,000, where buyers previously stepped in during the correction.
The current test sits near the upper resistance band between $73,500 and $75,000. A sustained hold above this region could open a path toward $79,000, which aligns with February highs and a key retracement level. A stronger move could extend toward $89,850, based on the neckline of a broader reversal pattern described by crypto.news.
On the downside, the $72,000 level remains the first major support. A break below that zone could bring $71,500 and $68,000 back into focus, areas where demand previously stabilized the market.
Caution remains despite recovery
The recent move has revived bullish sentiment, but past cycles show that similar rebounds can occur during broader downturns. In 2022, Bitcoin posted multiple rallies before falling to cycle lows below $16,000 after the collapse of FTX.
This context has kept some traders cautious as they watch whether Bitcoin can maintain its position above $75,000.
Jack Mallers has pointed to long-term accumulation strategies instead of short-term timing. He urged investors to “turn on your DCA,” referring to the practice of buying at regular intervals regardless of price.
For now, Bitcoin trades near the top of its recent range. The recovery from February lows stands clear, but the market still needs to confirm strength above resistance levels before a broader breakout can take shape.
Anastasiia G
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