🌊 Is September the Start of Altcoin Season? Coinbase Thinks So

BTC dominance slips, liquidity deepens, and traders eye higher-beta plays.

📊 Altcoin Season Signals — Coinbase’s Take

• Potential kickoff: September 2025
• Trigger #1: Bitcoin dominance dropping
• Trigger #2: Liquidity improving — tighter spreads, deeper books
• Trigger #3: Risk appetite rebounding under calmer macro

🎯 What Even Is Altcoin Season?

It’s the part of the cycle where everything that’s not BTC — from ETH and SOL to mid- and small-cap gems — starts outperforming Bitcoin in percentage gains. Pattern:

1. Large-cap alts lead (ETH, SOL, XRP).
2. Mid-caps catch a bid.
3. Small-caps get their moonshot moment.

📉 BTC Losing Its Grip

Bitcoin’s share of total market cap is sliding — a classic precursor to capital rotation.

• YTD: BTC up +27.2%
• ETH: +37.9%
• XRP: +49%

When Bitcoin chills, money flows elsewhere. Coinbase notes ETH and XRP are already outpacing BTC — a hint the rotation may have started.

💧 Liquidity = Opportunity

Tighter bid-ask spreads and deeper order books mean less slippage, more confidence for big players. Institutional money loves that combo — and alts could see more of it this fall.

🧠 Market Psychology Matters

Stable macro + low volatility = traders willing to reach for more risk. That’s when mid- and small-caps shine — often delivering the outsized moves retail dreams about.

🔮 The Catch

Coinbase isn’t naming winners yet. The duration and magnitude of this season will depend on:

• BTC’s behavior (sideways is good for alts)
• Global macro shifts
• Whether liquidity holds up

If conditions stick, alt season could run into year-end 2025.

TL;DR

• Coinbase says alt season could start in September as BTC dominance drops.
• ETH, SOL likely to lead, with mid- and small-caps following.
• Liquidity, sentiment, and macro stability will decide how far it runs.