On March 17, 2026, Bitcoin's price surged powerfully through the critical psychological level of $75,000, reaching a high of $75,800, marking a new peak for the recent rally. This price movement not only successfully broke through the resistance zone (73,750–74,400 USD) that has suppressed upward movement multiple times since 2024, but also sparked widespread market discussion about "whether the bull market is returning." Unlike previous rallies driven by spot market sentiment, structural changes in the derivatives market have become the core engine of this current market movement. This article will analyze 4 key signals released by the current market from four dimensions: on-chain data, derivatives structure, macroeconomic comparison, and market sentiment, and under strict distinction between facts, perspectives, and speculation, will extrapolate the sustainability and potential impact of this breakthrough.