US Crypto Adoption Sees a Resurgence, with Bitcoin Maintaining Its Dominance

A recent retail survey conducted by Deutsche Bank across 3,400 consumers in the US, UK, and EU reveals that crypto adoption in the US has experienced a notable comeback, despite ongoing caution surrounding price expectations. The survey found that US participation rates rebounded to 12% in March, up from 7% in February, thereby returning to levels last seen in July 2025. Historically, adoption rates have not exceeded 14% in the survey, which dates back to 2023. Furthermore, bitcoin exchange-traded funds (ETFs) witnessed a resurgence in March, with net inflows of approximately $1.3 billion, signaling renewed demand from institutional investors following a slow 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.' The stabilization of crypto prices, particularly in March, has been driven by renewed institutional demand and geopolitical factors. Bitcoin, for instance, rose by roughly 9% in March, recovering towards the $70,000 mark after earlier declines, although it remains down over 20% year-to-date and well below its peak of over $120,000 in late 2025. More recently, prices have pushed higher into the mid-$70,000s, briefly exceeding $77,000 amidst easing geopolitical tensions and improving risk sentiment. However, the recovery has been uneven, with prices repeatedly testing resistance around the mid-$70,000 range. Analysts consider this level a key threshold for further upside, while macro pressures, including higher interest rates and energy-driven inflation, continue to impact crypto and 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 near $75,000 by the end of 2026. In the US, 19% of respondents expect prices to fall 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 continues to dominate 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, including gold and the S&P 500, remain favored overall, though the gap has narrowed in the US, where preferences are more evenly split across the three. Demographically, crypto adoption remains skewed towards men and higher-income households, although the report notes gradual gains among women and lower-income investors, with younger consumers, particularly in the UK, showing the fastest growth in participation.