Bitcoin (BTC) has reclaimed the $74,000 price level for the first time since early February of this year. BTC tested the $72,000-$74,000 price range on multiple occasions over the last month, albeit without success. However, BTC’s latest stint to breach the $74,000 level has proven successful. According to CoinGecko’s Bitcoin data, BTC’s price has risen 3.7% in the last 24 hours, 10.2% in the last week, 10.9% in the 14-day charts, and 7.4% in the previous month. Despite the impressive turnaround, Bitcoin’s (BTC) price is still down by 12.2% since March 2025. Let’s discuss what’s pushing Bitcoin’s (BTC) price rally, and if the upswing can sustain beyond $74000.

What’s Pushing Bitcoin’s Price Rally To $74000?

Bitcoin’s (BTC) latest rebound is likely due to a potential de-escalation in the Middle East conflict. Many are counting on tensions to cool off over the coming weeks, as the energy sector became shaky due to Iran’s position on the Strait of Hormuz. The expectations of a de-escalation may have changed investor appetite for risk. Cryptocurrencies and other risky assets seem to have become attractive over the last weekend. Bitcoin’s (BTC) resurgence has led to a larger market-wide rally in the crypto sector. Most top assets are trading in the green zone in the daily and weekly charts today. However, US-Iran tensions are still high, and things could flare up at any moment.

The $74,000 price level is a critical range for the asset. A rejection here could potentially pull BTC’s price back to the $62,000-$64,000 price level. However, continued inflows could push BTC’s price back to the $80,000 mark. How investors behave right now may shape Bitcoin’s (BTC) trajectory over the coming weeks.

Also Read: 77% of Corporate Bitcoin Holders Are in Loss: When Will BTC Break Out?

CoinCodex analysts are quite bullish on Bitcoin (BTC) over the coming weeks. The platform anticipates the asset to hit $81,982 on March 25, 2026. However, the platform does not expect BTC to be able to hold the $82,000 price level, predicting a correction to the $74,000 level by May 10, 2026.