Bitcoin (BTC) is making another attempt at the $70,000 price level. The original crypto recently faced a rejection at this price point, falling to the $66,000 level on April 2, 2026. BTC seems to be making a rebound after its recent dip, trading in the green zone in nearly all time frames. According to CoinGecko’s Bitcoin data, BTC’s price has surged 3.2% in the last 24 hours and 2.4% over the previous week. Let’s discuss what’s pushing Bitcoin’s (BTC) price, and why the asset needs to hit $75k for a market-wide breakout.

Why Bitcoin Needs To Hit $75k For A Market-Wide Rally

Bitcoin (BTC) has tried to breach the $73,000-$74,000 price level on multiple instances over the last few months. However, the original crypto is facing substantial resistance around this price range. According to some analysts, the average price of a majority of Bitcoin (BTC) holders sits above this price range, and demand is low at this level. This creates a significant price barrier for BTC.

Bitcoin’s (BTC) latest price rally comes amid President Trump’s continued threats of additional military operations on Iran. There were some signs of a potential de-escalation of the US-Iran war, but things are still quite shaky at the moment. A cool off in the conflict could further propel BTC’s price.

Bitcoin’s (BTC) rally also comes amid large amounts of worth of shorts being liquidated. According to CoinGlass data, BTC saw $104.22 million worth of shorts being liquidated in the last 24 hours.

Also Read: Bitcoin Whales Are Selling: Know This Before You Join Them

While the rally may have brought some relief to investors and holders, it is unclear if it can sustain itself. There is a possibility that Bitcoin (BTC) will once again face a rejection at the $73,000-$74,000 price level, as it has done several times over the last few months. Hence, it is critical for BTC to reclaim $75,000 if the larger crypto market is to rally.