Altcoins have recently experienced substantial growth, suggesting that the cryptocurrency market may be entering a full-scale altcoin season, according to Coinbase's David Duong. This period, defined as when 75% of the top 50 altcoins outperform Bitcoin over 90 days, is anticipated due to significant retail capital on standby and a high probability of a Federal Reserve rate cut in September. Additionally, Bitcoin’s market dominance has decreased from over 65% in May to about 59%, indicating an early capital rotation towards altcoins. Although altcoin season indexes are currently below the threshold of 75 that historically indicates an altseason, they have been rising, reflective of increased institutional interest in Ethereum. Duong noted that for an altcoin season to fully materialize, supportive macroeconomic conditions, declining Bitcoin dominance, and a strong narrative must align.

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