US Crypto Adoption Sees a Resurgence, With Bitcoin Remaining the Dominant Force

A recent retail survey conducted by Deutsche Bank, covering 3,400 consumers across the US, UK, and EU, reveals that crypto adoption in the US has experienced a notable comeback. The survey found that US participation rates increased to 12% in March, up from a February low of 7%, thereby returning to levels last seen in July 2025. Historically, adoption rates have not exceeded 14% in the survey, which dates back to 2023. The report highlights that bitcoin exchange-traded funds (ETFs) witnessed a significant resurgence in March, with net inflows of approximately $1.3 billion, signaling renewed institutional demand following a sluggish start to the year. Analysts Marion Laboure and Camilla Siazon noted in their report that 'US crypto adoption rates recovered in March after steadily declining since July 2025.' Crypto prices have shown signs of stabilization after a volatile start to 2026, driven by renewed institutional demand and geopolitical factors. Bitcoin prices rose roughly 9% in March, recovering towards the $70,000 level, although they remain down over 20% year-to-date and well below the late-2025 peak above $120,000. More recently, prices have pushed higher into the mid-$70,000s, briefly surpassing $77,000 amid easing geopolitical tensions and improving risk sentiment. The recovery has been uneven, with prices repeatedly testing resistance around the mid-$70,000 range. Analysts consider this level a key breakout threshold for further upside, while macro pressures, including higher-for-longer interest rates and energy-driven inflation, continue to weigh on crypto alongside broader risk assets. In other regions, trends were more subdued, with UK adoption dipping slightly to 9% but remaining structurally higher in the long term, while Europe held steady at 7%. Despite the rebound in participation, consumer sentiment on bitcoin's price outlook remains subdued, with a majority of respondents expecting bitcoin to trade lower than current levels by the end of 2026. In the US, 19% of respondents expect prices to land between $20,000 and $60,000, while 13% anticipate a drop below $20,000. Only a small minority, around 3% in the US, expect a return to record highs near $120,000. Bitcoin remains firmly at the center of the crypto market, with roughly 70% of crypto investors across regions holding bitcoin, far exceeding ownership of stablecoins. It is also the top choice for future investment, cited by 69% of US respondents. Traditional assets continue to compete for investor attention, with gold and the S&P 500 remaining favored overall, though the gap has narrowed in the US. Demographically, crypto adoption remains skewed toward men and higher-income households, though the report notes gradual gains among women and lower-income investors.