Bitcoin blasted through $73,000 on Monday, reaching its highest point since early February and reigniting bullish energy across crypto markets. The rally sent mining stocks soaring, with TeraWulf leading the pack on a 13% single-day surge that caught Wall Street’s attention.
Bitcoin Price Rally Fuels Fresh Risk Appetite
At 9:15 a.m. Eastern Time on March 16, 2026, the price of Bitcoin stood at $73,882.25.1 That marked a $2,327.34 increase from the previous morning.1
The move came after weeks of sideways trading near the $70,000 level. March is shaping up to be a turning point for Bitcoin, with the asset up about 8% so far this month. A March advance would break BTC’s five-month losing streak.2
What drove the breakout? Several forces lined up at once:
- The gains began Thursday evening after U.S. Treasury Secretary Scott Bessent said the Trump administration was taking steps to ease oil price pressures.2
- U.S. spot Bitcoin ETFs recorded roughly $1.3 billion in net inflows so far in March, potentially marking the first positive month for flows since October.3
- After a period of some of the worst sentiment in Bitcoin’s history, funding positioning of perpetual futures traders has been negative for the longest period since late 2022.2
That last point matters. The 30-day average funding rate has now been negative for 14 consecutive days, the longest streak since December 2022. These negative streaks have coincided with local price bottoms over the past seven years.2
Bitcoin price surge above 73000 TeraWulf mining stock rally 2026
Spot Bitcoin ETFs Drive Institutional Demand
The fuel behind this rally looks different from past cycles. It is not driven by retail hype. It is driven by Wall Street money flowing through regulated products.
US spot Bitcoin ETFs recorded their first five-day inflow streak of 2026, pulling in $767.32 million across the week according to SoSoValue data.4
On March 11, BlackRock’s iShares Bitcoin Trust alone pulled in $115.51 million in net inflows.5 IBIT, the Bitcoin ETF, now holds over $55 billion in assets.5
Total net assets across spot Bitcoin ETFs now stand at $91.83 billion, with cumulative net inflows reaching $56.14 billion.4
Key takeaway: The March 2026 rebound reflects a structural shift in crypto, moving from retail-dominated cycles to institutional allocation cycles, from exchange inflows to ETF flows, and from speculative mania to portfolio inclusion.6
Mining Stocks Ride the Bitcoin Wave Higher
When Bitcoin jumps, mining stocks tend to move even faster. They act as leveraged bets on the coin’s price because every dollar of BTC appreciation flows straight into miner revenue.
The entire Bitcoin mining sector rallied in sympathy. With miners being a high-beta play on the price of Bitcoin, this move reflected the asset’s surge.7
The pattern repeated itself on Monday. Marathon Digital, Riot Platforms, CleanSpark, and Hut 8 all posted solid gains. But one name outshined them all.
Wall Street investment bank Morgan Stanley recently initiated coverage of the Bitcoin mining sector, with a focus on companies making the move into AI. The firm is now overweight on TeraWulf and Cipher Digital, the two miners making the biggest moves into AI.8
This shift is reshaping the entire sector. There is an important new trend taking over Bitcoin mining right now. Mining companies are selling off Bitcoin holdings and using those funds to finance a major expansion into artificial intelligence computing.8
TeraWulf’s Strategic Pivot Catches Wall Street’s Eye
On Monday, March 16, 2026, TeraWulf Inc. stock was trending up by 13.53%.9 The stock’s momentum was hard to miss.
Here is why traders are paying attention:
| Metric | Detail |
|---|---|
| Monday’s Price Range | $15.40 low to $16.79 high10 |
| 52-Week Range | $2.06 to $18.5110 |
| Market Cap | $6.94 billion10 |
| Analyst Consensus | Buy rating from 11 analysts11 |
| Consensus Price Target | $19.5911 |
Rosenblatt increased its target price for TeraWulf from $20 to $23, citing the company’s transition from Bitcoin mining to high-performance computing for AI.9 Morgan Stanley positioned TeraWulf at an Overweight rating with a $37 price target, marking confidence in its infrastructure capabilities.12
The company is not standing still. On March 13, 2026, TeraWulf entered into a 364-day, $500 million delayed-draw senior secured bridge credit facility led by Morgan Stanley, providing financing for construction and development of the company’s Hawesville, Kentucky data center.13
A key spokesperson for the firm said they are gearing up by doubling capacity in specific sites, like those in Kentucky and Maryland.9 TeraWulf has increased its annual high-performance computing signing goal from 100 to 150 MW to 250 to 500 MW, while electricity costs dropped from $0.053 to $0.047 per kilowatt-hour.11
What Comes Next for Bitcoin and Mining Stocks
The $74,000 level is now the line in the sand. A high-volume break above $74,000 could trigger a move toward $80,000, while rejection would likely keep BTC in the range it has held since February 5.3
Analysts point out that for Bitcoin to start a sustained trend reversal, it must break through and hold above the $73,000 to $75,000 range.14
Risks remain real. Traders are navigating a wait-and-watch scenario, balancing optimistic long-term price predictions against inflation worries and global trade tensions.15 Geopolitical uncertainty in the Middle East continues to weigh on broader sentiment.
For mining stocks, the playbook is clear. Companies with low energy costs, healthy balance sheets, and a smart AI strategy will attract the most investor attention going forward. TeraWulf checks all three boxes right now, which explains why traders are willing to pay up for its shares even as Bitcoin’s future remains uncertain.
This Monday rally reminded the crypto world that momentum can return fast. Whether Bitcoin holds above $73,000 or pulls back toward support, the institutional money pouring into ETFs and the mining sector’s pivot to AI are reshaping digital assets for the long haul. Drop your thoughts in the comments below. Are you bullish on Bitcoin breaking $80,000 this spring, or do you think this rally runs out of steam?
