According to Deutsche Bank (DB), U.S. crypto adoption has seen a resurgence, despite cautious sentiment regarding prices. The bank’s new retail survey, which covered 3,400 consumers from the U.S., U.K., and EU, revealed that U.S. participation rose to 12% in March from a February low of 7%, matching levels last observed in July 2025. Historically, the adoption rate has not exceeded 14% since the survey began in 2023.
Bitcoin exchange-traded funds (ETFs) experienced renewed interest in March, drawing approximately $1.3 billion in net inflows, indicating a revival of institutional demand after a sluggish start to the year. “After gradually declining since July 2025, U.S. crypto adoption rates have seen recovery in March,” noted analysts Marion Laboure and Camilla Siazon in their Monday report.
Following a volatile beginning to 2026, crypto prices began stabilizing last month, with Bitcoin rallying about 9% in March, approaching the $70,000 mark after earlier declines. Despite being over 20% down year-to-date and significantly below its late-2025 peak of above $120,000, recent prices have risen into the mid-$70,000s, briefly surpassing $77,000 due to easing geopolitical tensions and improving risk sentiment.
The recovery has been inconsistent, with prices frequently testing resistance around the mid-$70,000 range. Analysts consider this level a crucial threshold for potential further gains, while macro pressures like sustained high-interest rates and inflation driven by energy costs continue to impact crypto alongside other risk assets.
In contrast, trends in other regions were more subdued. U.K. adoption slightly decreased to 9% but remains structurally higher over the long term, analysts noted, with Europe maintaining a steady rate of 7%.
Despite increased participation, consumer sentiment regarding Bitcoin’s price outlook remains muted across regions. A majority anticipate that Bitcoin will trade below current levels near $75,000 by the end of 2026. In the U.S., 19% foresee prices ranging between $20,000 and $60,000, while 13% predict a drop below $20,000, a level last seen in early 2023. Only about 3% in the U.S. expect Bitcoin to reach record highs near $120,000.
Bitcoin continues to dominate the crypto market, with approximately 70% of investors across regions holding it, far surpassing stablecoins like USDT or USDC, as per the report. It is also the preferred choice for future investment, cited by 69% of U.S. respondents.
Traditional assets remain competitive for investor attention, with gold and the S&P 500 still favored overall. However, this gap has lessened in the U.S., where preferences are more evenly divided among these three options.
Demographically, crypto adoption is predominantly among men and higher-income households, though there have been incremental gains among women and lower-income investors. Younger consumers, particularly in the UK, demonstrated the fastest growth in participation.