What does "March Madness" refer to in NCAA basketball?

"March Madness" specifically refers to the NCAA Men's and Women's Basketball Tournaments that take place every spring, primarily in March. This term captures the excitement and unpredictability of the tournament as teams compete in a single-elimination format to win their respective championships. The NCAA Tournament garners significant attention due to its dramatic games, underdog stories, and the overall spectacle of college basketball culminating in a national champion.

While the start of the season, an annual awards ceremony, and a playoff format are all integral aspects of college basketball, none of these encapsulate the uniquely thrilling and high-stakes nature of the tournament that "March Madness" embodies. Therefore, the correct answer directly links to the iconic tournament that captures the hearts of fans and players alike during that time.