Cryptocurrency adoption in the US has returned, even as price sentiment remains cautious, according to German lender Deutsche Bank (DB).
In a new retail survey covering 3,400 consumers in the US, UK and EU, the bank said US participation recovered to 12% in March from a low of 7% in February, returning to levels last seen in July 2025. Data in the report suggested adoption has not exceeded 14% in the history of the survey, which dates back to 2023.
Bitcoin exchange-traded funds (ETFs) experienced a resurgence in March, attracting approximately $1.3 billion in net inflows, according to the report, indicating renewed institutional demand after a weak start to the year.
“After a steady decline since July 2025, US cryptocurrency adoption rates rebounded in March,” analysts Marion Laboure and Camilla Siazon wrote in Monday’s report.
Cryptocurrency prices have shown signs of stabilization after a volatile start to 2026, and last month marked a tentative rally driven by renewed institutional demand and geopolitical tailwinds.
Bitcoin rose about 9% in March, recovering towards the $70,000 level after previous declines, although it is still down more than 20% so far this year and well below its late 2025 high above $120,000. More recently, prices have risen to the mid-$70,000s, briefly topping $77,000 amid easing geopolitical tensions and improving risk sentiment.
The recovery has been uneven. Prices have repeatedly tested resistance around the mid-$70,000 range, with analysts pointing to that level as a key threshold for further upside. At the same time, macroeconomic pressures, including higher-for-longer interest rates and energy-driven inflation, continue to weigh on cryptocurrencies along with broader risk assets.
Elsewhere, trends were more moderate. Adoption in the UK fell slightly to 9% but remains structurally higher in the long term, analysts said, while Europe was stable at 7%.
Despite the rebound in participation, consumer confidence in bitcoin’s price outlook is moderate.
A majority of respondents across all regions expect bitcoin to trade below current levels, near $75,000, by the end of 2026. In the US, 19% expect prices to fall between $20,000 and $60,000, while 13% expect a drop below $20,000, a level last seen in early 2023. Only a small minority, around 3% in the US, anticipate a return to near all-time highs. $120,000.
The world’s largest cryptocurrency was trading around $75,000 at the time of this publication.
Still, bitcoin remains firmly at the center of the cryptocurrency market. About 70% of cryptocurrency investors across all regions own bitcoin, far surpassing ownership of stablecoins like USDT or USDC, according to the report. It is also the best option for future investments, cited by 69% of American respondents.
Traditional assets continue to compete for investors’ attention. Gold and the S&P 500 remain the overall favorites, although the gap has narrowed in the US, where preferences are more evenly divided between the three.
Demographically, cryptocurrency adoption remains skewed toward 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.
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