German bank Deutsche Bank (DB) says cryptocurrency adoption in the United States has made a comeback, although price sentiment remains cautious.
In a new retail survey of 3,400 consumers in the US, UK and EU, the bank said US participation rebounded to 12% in March from a low of 7% in February, returning to July 2025 levels. Data from the report shows that participation has never exceeded 14% in the history of the survey, dating back to 2023.
Bitcoin exchange-traded funds (ETFs) recovered in March, attracting approximately $1.3 billion in net inflows, suggesting a recovery in institutional demand after a weak start to the year, the report said.
“U.S. cryptocurrency adoption rebounded in March after declining steadily since July 2025,” analysts Marion Laboure and Camilla Siazon wrote in a report on Monday.
Cryptocurrency prices have shown signs of stabilizing after a tumultuous start to 2026, with a temporary rebound last month driven by renewed institutional demand and geopolitical tailwinds.
Bitcoin rose about 9% in March, recovering to $70,000 levels after earlier losses, but is still down more than 20% so far this year, well below its peak above $120,000 in late 2025. Recently, prices have risen to around $70,000 and briefly topped $77,000 as geopolitical tensions eased and risk sentiment improved.
The recovery has been uneven. The price has repeatedly tested resistance in the middle of the $70,000 range, with analysts pointing to this level as a key breakthrough threshold for further gains. Meanwhile, macro pressures, including longer-term higher interest rates and energy-driven inflation, continue to weigh on cryptocurrencies and broader risk assets
Elsewhere, trends are more modest. Analysts said adoption in the UK fell slightly to 9% but remains structurally higher in the long term, while Europe held steady at 7%.
Although participation has picked up, consumer confidence in Bitcoin’s price outlook remains subdued.
The majority of respondents across all regions expect Bitcoin to trade below current levels, approaching $75,000, by the end of 2026. In the United States, 19% expect prices to fall between $20,000 and $60,000, while 13% expect prices to fall below $20,000, levels last seen in early 2023. Only a minority (about 3% in the U.S.) expect a return to near all-time highs. $120,000.
At press time, the world’s largest cryptocurrency was trading at around $75,000.
Despite this, Bitcoin remains firmly at the center of the cryptocurrency market. The report states that approximately 70% of cryptocurrency investors in various regions hold Bitcoin, far exceeding the holdings of stablecoins such as USDT or USDC. 69% of U.S. respondents said it was also a top choice for future investments.
Traditional assets continue to compete for investor attention. Gold and the S&P 500 remain generally favored, although the gap has narrowed in the U.S., where preference among the three is more evenly divided.
Demographically, cryptocurrency adoption remains skewed towards men and higher-income households, although reports note gradual growth among women and lower-income investors. Engagement is growing fastest among younger consumers, particularly in the UK.
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