Bitcoin Breaks Through $75,000, Cryptocurrencies Rally Across the Board, Over 120,000 Liquidations

Why did Bitcoin outperform traditional assets during the Iran war?

Reporter | Jiang Peixia Intern | Lin Qianwei

Editor | Xie Zhen

On March 17, the cryptocurrency market surged collectively, with Bitcoin breaking through $75,000, up more than 3% for the day; Ethereum surpassed $2,300, nearly a 9% increase. SOL, XRP, Dogecoin, and others also rose.

CoinGlass data shows that in the past 24 hours, a total of 127,000 people worldwide were liquidated, with total liquidation amounts reaching $570 million.

Yesterday, European and American stock markets rose sharply, international oil prices plummeted, precious metal prices weakened, and gold hovered around the $5,000 mark.

Bitcoin reached a historical high of over $126,000 in October last year, but just a few days later, it began a long decline lasting several months. Most of this year, Bitcoin has been trading between $60,000 and $75,000, repeatedly attempting to break through but never succeeding.

According to China Securities Journal, Bloomberg pointed out that since the outbreak of the Iran war, this primitive cryptocurrency has outperformed stocks and gold, but this more reflects how much it has already fallen rather than predicting its future direction. The token has fallen more than 40% from its peak in October 2025.

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(Disclaimer: The content of this article is for reference only and does not constitute investment advice. Investors operate at their own risk.)

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