Coinbase indicates that the altcoin season is about to arrive. Coinbase's monthly report states that the altcoin season is approaching. Although Coinbase's view on the altcoin season has shifted, the outlook for the third quarter of 2025 remains optimistic.

It is believed that as September approaches, the current market conditions may suggest that the altcoin season is about to fully arrive. A common definition of the altcoin season is that at least 75% of the top 50 altcoins by market capitalization have outperformed BTC in the past 90 days.

Many debate whether the Federal Reserve's interest rate cuts in September indicate a local peak in the cryptocurrency market. Coinbase does not believe so.

Given that a large amount of retail capital is on the sidelines in money market funds (over $7 trillion) and other areas, the Federal Reserve's easing policies may release more potential for retail participation in the medium term. #山寨季何时到来？ $BTC