Deutsche Bank says U.S. crypto adoption rebounds as bitcoin keeps market lead

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US crypto rebound, bitcoin leads

Highlights

Deutsche Bank's March survey shows U.S. crypto adoption rebounding to 12% from 7% in February, returning to levels last seen in July 2025.
Bitcoin ETF net inflows reach about $1.3 billion in March, signaling renewed institutional demand as bitcoin rises 9% toward $70,000 but remains down over 20% year to date.
Despite recovery in adoption, most respondents expect bitcoin to end 2026 below $75,000, yet 70% of crypto investors still hold bitcoin, underscoring its market dominance.

Survey shows March rebound in U.S. participation

As reported by Coindesk citing Deutsche Bank, its latest retail survey of 3,400 consumers across the U.S., UK and EU shows U.S. crypto adoption rising to 12% in March from 7% in February, returning to levels last seen in July 2025. The bank says adoption has not exceeded 14% at any point in the survey history dating back to 2023.

Analysts Marion Laboure and Camilla Siazon write that U.S. adoption recovers in March after declining steadily since July 2025. The report also says bitcoin exchange-traded funds draw about $1.3 billion in net inflows in March, pointing to a pickup in institutional demand after a weak start to the year.

Crypto prices show signs of stabilization after early-2026 volatility. Bitcoin rises about 9% in March toward the $70,000 level after earlier declines, remains down more than 20% year to date, and trades around $75,000 at publication time after briefly moving above $77,000 amid easing geopolitical tensions and better risk sentiment.

Bitcoin remains dominant despite cautious outlook

Even with participation recovering, consumer sentiment on bitcoin's price path stays cautious. A majority of respondents across regions expect bitcoin to finish 2026 below current levels near $75,000, including 19% of U.S. respondents who see prices between $20,000 and $60,000 and 13% who expect a fall below $20,000.

Only about 3% of U.S. respondents expect bitcoin to revisit record highs near $120,000. Deutsche Bank says bitcoin still sits at the center of the crypto market, with roughly 70% of crypto investors across regions holding it, well ahead of stablecoins such as USDT and USDC, and 69% of U.S. respondents naming it as their preferred future investment.

Outside the U.S., UK adoption dips slightly to 9% while Europe holds steady at 7%. The report says gold and the S&P 500 still compete strongly for investor attention, although the gap narrows in the U.S., while crypto ownership remains concentrated among men and higher-income households with gradual gains among women, lower-income investors and younger consumers, particularly in the UK.

In our earlier article on bitcoin’s sensitivity to Donald Trump’s public comments, we outlined several episodes since 2019 where his posts and remarks coincided with abrupt price swings. We also noted how shifting signals on tariffs, crypto policy, and U.S.–Iran tensions can quickly reshape risk sentiment, fueling concerns about outsized market impact and potential manipulation risks.

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