Crypto adoption in the United States has made a comeback, although sentiment around prices remains cautious, according to German lender Deutsche Bank (DB).
In a new retail survey of 3,400 consumers in the United States, United Kingdom and European Union, the bank said U.S. participation rebounded to 12% in March from a low of 7% in February, returning to levels last seen in July 2025. Data from the report suggests adoption has not exceeded 14% in the survey’s history, which dates back to 2023.
Bitcoin exchange-traded funds (ETFs) saw a resurgence in March, attracting approximately $1.3 billion in net inflows, according to the report, signaling renewed institutional demand after a weak start to the year.
“After a steady decline since July 2025, U.S. crypto adoption rates recovered in March,” analysts Marion Labore and Camilla Siazon wrote in Monday’s report.
Cryptocurrency prices have shown signs of stabilization after a volatile start to the year, with last month marking a modest rebound driven by renewed institutional demand and geopolitical tailwinds.
Bitcoin rose about 9% in March, climbing back toward the $70,000 level after earlier declines, although it remains down more than 20% year to date and well below its late 2025 peak above $120,000. More recently, prices have climbed to around $70,000, briefly surpassing $77,000 amid easing geopolitical tensions and improving risk sentiment.
The recovery has been uneven. Prices repeatedly tested resistance around the mid-$70,000 range, with analysts pointing to this level as a key breakout threshold for further upside. At the same time, macroeconomic pressures, including higher long-term interest rates and energy-driven inflation, continue to weigh on crypto alongside broader risk assets.
Elsewhere, trends have been more moderate. Adoption in the UK fell slightly to 9%, but remains structurally higher over the long term, analysts say, while Europe remained stable at 7%.
Despite the rebound in participation, consumer confidence in Bitcoin’s price outlook is muted.
A majority of respondents across all regions expect bitcoin to trade below its current level near $75,000 by the end of 2026. In the United States, 19% see prices falling between $20,000 and $60,000, while 13% expect a decline below $20,000, a level last seen in early 2023. Only a small minority, about 3% in the United States, expect a return to record levels near $75,000. $120,000.
The world’s largest cryptocurrency was trading around $75,000 at press time.
Still, bitcoin remains firmly at the center of the crypto market. Around 70% of crypto investors across all regions hold bitcoin, far outpacing ownership of stablecoins such as USDT or USDC, according to the report. It is also the top choice for future investments, cited by 69% of US respondents.
Traditional assets continue to compete for investor attention. Gold and the S&P 500 remain favored overall, although the gap has narrowed in the United States, where preferences are more evenly distributed among the three.
Demographically, crypto adoption remains skewed toward men and higher-income households, although the report notes gradual gains among women and lower-income investors. Younger consumers, particularly in the UK, showed the fastest growth in participation.
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