According to a recent report published by Coinbase Institutional, a "full-scale" altcoin season appears to be likely.  

This implies that the vast majority of alternative cryptocurrencies (roughly 75%) will be outperforming Bitcoin. 

The U.S. Federal Reserve is widely expected to implement a 25-basis-point rate cut in September. Polymarket bettors currently see a 75% chance of the Fed making such a move following the next meeting held by the Federal Open Market Committee (FOMC). 

Some have assumed that the next Fed rate cut could potentially mark a local top for the leading cryptocurrency. 

However, Coinbase does not believe that this will necessarily be the case. The report has noted that a lot of retail capital remains on the sidelines, and a likely rate cut could potentially "unlock" it. 

Bitcoin's market cap dominance has now collapsed to 59.39%, recording a stunning 10.21% drop since late June. 

On Aug. 14, Ethereum (ETH) reached a new 2025 peak of 0.039 BTC.