Deep Tide TechFlow News, on August 15, Coinbase's research department released a monthly outlook report indicating that the cryptocurrency market may enter a full bull market for small-cap tokens by September 2025. The report shows that Bitcoin's market dominance fell from 65% in May 2025 to 59% in August, and the total market capitalization of small-cap tokens has increased by over 50% since early July, reaching $1.4 trillion.

Liquidity data indicates that the liquidity of the cryptocurrency market has begun to recover after six months of decline. The report believes that the Federal Reserve's expected implementation of interest rate cuts in September and October may prompt a portion of the $7.2 trillion currently held in money market funds to shift towards risk assets, bringing new capital inflows to the cryptocurrency market.