Coinbase Market Research: Altcoin Season is Coming Soon!!

Bitcoin's market dominance has decreased from 65% in May 2025 to about 59% in August 2025, marking the early stages of capital rotation towards altcoins. CoinMarketCap's altcoin season index is currently at over 40 points, well below the historical threshold of 75 points that defines altcoin seasons, although the market capitalization of altcoins has risen over 50% since early July, reaching $1.4 trillion as of August 12. We believe that the current market conditions are beginning to indicate that, with September approaching, an altcoin season may fully unfold.