On Mar. 17, 2026 Bitcoin climbed above $75,000 (peaking near $75,800), breaking the $73,750–$74,400 resistance. The move was driven mainly by unwinding of bearish positions — sizable put selling around $55k–$60k strikes and closes of shorts from the early-February sell-off — which forced market makers to buy to rebalance. CoinDesk said hedge unwinds, not fresh call buying, appear to have powered the rally. The broader market rallied: CoinDesk 20 +~5%, Ether ~+8% (~$2,360), XRP ~+8%, Solana ~+4%, with ZEC, PEPE, DOT and VIRTUAL also notable performers.

Bitcoin breached key resistance to $75k driven by factual flows: sizeable put selling at $55k–$60k strikes and short coverings forced market-maker buybacks; CoinDesk reported hedge unwinds were the primary driver. These are concrete, market-moving derivatives flows noted in the summary.