TLDR
- Coinbase expects a potential full-scale altcoin season to begin in September.
- Bitcoin dominance has dropped from over 65% in May to around 59% in August.
- Altcoin market capitalization has grown by more than 50% since early July.
- Macroeconomic data has increased the likelihood of a September Federal Reserve rate cut.
- A lower interest rate environment could attract more retail and institutional capital into altcoins.
Coinbase has indicated that the market may be on the verge of a full-scale altcoin season in September. The firm defines altcoin season as when 75% of the top 50 altcoins outperform Bitcoin over the prior 90 days. Analysts point to falling Bitcoin dominance and improving macroeconomic conditions as key drivers of this potential shift.
Coinbase Sees Shift Toward Altcoin Season
Bitcoin dominance has fallen from over 65% in May to around 59% in August, signaling early capital rotation into altcoins….
