US Crypto Adoption Sees a Resurgence, Bitcoin Remains Dominant, According to Deutsche Bank

A resurgence in US crypto adoption has been observed, with cautious price sentiments prevailing, as indicated by a recent retail survey conducted by Deutsche Bank. The survey, which spanned 3,400 consumers across the US, UK, and EU, found that US participation rates 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 (ETFs) experienced a significant resurgence in March, attracting approximately $1.3 billion in net inflows, which signals 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, with the previous month marking a tentative rebound driven by renewed institutional demand and geopolitical tailwinds. Bitcoin experienced a roughly 9% increase in March, recovering towards the $70,000 level after earlier declines, although it remains down over 20% year-to-date and well below its 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. However, the recovery has been uneven, with prices repeatedly testing resistance around the mid-$70,000 range, and analysts pointing to that level as a key breakout threshold for further upside. Meanwhile, 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 over the long term, while Europe held steady at 7%. Despite the rebound in participation, consumer sentiment on bitcoin's price outlook is subdued, with a majority of respondents across regions expecting bitcoin to trade lower than current levels near $75,000 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, a level last seen in early 2023. 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 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.