Major bank identifies surprising trend for American crypto investors

The S&P 500 has reached record heights above 7,000, but Bitcoin (BTC) is struggling to regain its momentum after hitting $122,000 in October 2025. A recent survey by Deutsche Bank of 3,400 global consumers indicates that while more people are entering the market, few believe a new price surge is imminent for Bitcoin in 2026.

Data from the report reveals a resurgence in cryptocurrency adoption in the United States. Participation in March rose to 12%, a significant increase from the February low of 7%. This return to double-digit participation levels matches those last seen in July 2025.

The increase in adoption can be attributed to the resurgence of Bitcoin exchange-traded funds (ETFs), which attracted approximately $1.3 billion in net inflows in March. Analysts Marion Laboure and Camilla Siazon noted that after a decline in late 2025, U.S. adoption rates have stabilized and begun to recover.

Despite the rise in digital asset ownership, the outlook for Bitcoin’s future prices remains subdued. While the cryptocurrency currently trades near $77,000, the majority of survey respondents expect it to end 2026 at a lower value. In the U.S., 19% believe the price will settle between $20,000 and $60,000, with 13% anticipating a drop below $20,000. Only 3% expect Bitcoin to return to its previous all-time high of $120,000.

The primary reason for Bitcoin’s divergence from the S&P 500’s record-breaking performance seems to be a shift in investors’ risk perception. While solid corporate earnings have propelled the stock market, Bitcoin is viewed more as a high-risk asset than a safe haven. Investors are reallocating capital to established technology stocks like Nvidia as concerns over global conflicts subside.

Despite these challenges, Bitcoin remains a focal point in the industry, with approximately 70% of crypto investors holding Bitcoin. This ownership percentage is significantly higher than that of stablecoins like USDT or USDC. Furthermore, 69% of U.S. respondents still consider Bitcoin their top choice for future investments.

The report also highlights a gradual increase in crypto ownership among women and lower-income investors, with younger consumers in the U.K. representing the fastest-growing group of new participants. However, traditional assets like gold and the S&P 500 continue to compete for attention, as U.S. investors are evenly split on their preference for long-term growth assets.

In conclusion, while Bitcoin may not be reaching new record highs like the S&P 500, its position as a key player in the cryptocurrency market remains strong. As the industry continues to evolve, it will be interesting to see how Bitcoin navigates the changing landscape of digital assets and investor sentiment.