US Crypto Adoption Sees Resurgence, Bitcoin Remains Dominant, Says Deutsche Bank

The US has witnessed a revival in crypto adoption, with participation rates recovering despite cautious sentiment surrounding price movements, as per a recent retail survey conducted by Deutsche Bank. The survey, which polled 3,400 consumers across the US, UK, and EU, noted that US participation rebounded to 12% in March, up from 7% in February, thereby returning to levels last seen in July 2025. Notably, the report highlighted that bitcoin exchange-traded funds saw a significant resurgence in March, with net inflows of approximately $1.3 billion, signaling renewed demand from institutions after a slow start to the year. Analysts Marion Laboure and Camilla Siazon observed in their report that US crypto adoption rates have recovered in March, following a steady decline since July 2025. Furthermore, crypto prices have shown signs of stabilization after a volatile start to 2026, with March marking a tentative rebound driven by renewed institutional demand and geopolitical factors. Bitcoin prices rose roughly 9% in March, recovering toward the $70,000 level, although they remain down over 20% year-to-date and well below their 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, which analysts consider a key breakout threshold for further upside. Concurrently, macro pressures, including higher-for-longer interest rates and energy-driven inflation, continue to weigh on crypto alongside broader risk assets. Elsewhere, trends were more muted, with UK adoption dipping slightly to 9% but remaining structurally higher over 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 near $75,000 by the end of 2026. In the US, 19% anticipate prices landing between $20,000 and $60,000, while 13% expect a drop below $20,000, a level last seen in early 2023. Only a small minority, around 3% in the US, anticipate 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 such as USDT or USDC. 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, where preferences are more evenly split across the three. Demographically, crypto adoption remains skewed toward men and higher-income households, though the report noted gradual gains among women and lower-income investors. Younger consumers, particularly in the UK, showed the fastest growth in participation.