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

The US crypto market has experienced a revival, with cautious price sentiments prevailing, as indicated by a recent retail survey conducted by Deutsche Bank. The survey, which polled 3,400 consumers across the US, UK, and EU, revealed that US participation rebounded to 12% in March, up from 7% in February, thereby returning to levels last seen in July 2025. The report highlighted that adoption rates have never exceeded 14% in the survey's history, which dates back to 2023. Additionally, bitcoin exchange-traded funds (ETFs) witnessed a resurgence in March, with net inflows of approximately $1.3 billion, signaling renewed institutional demand following a slow start to the year. Analysts Marion Laboure and Camilla Siazon noted in the 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 of over $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. Meanwhile, macro pressures, including higher 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% and Europe holding 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 such as USDT or USDC. Demographically, crypto adoption remains skewed towards men and higher-income households, although the report noted gradual gains among women and lower-income investors. Younger consumers, particularly in the UK, showed the fastest growth in participation.