Altcoin Season Hits a Standstill as Investors Eye September Fed Decision

Jakarta, Pintu News – For the past few months, the crypto market has been enthusiastically looking forward to altcoin season. Whenever it seemed like that season was about to arrive, Bitcoin (BTC) quickly reclaimed its dominance, attracting most of the liquidity, and leaving altcoins trailing in its wake.

With September upon us, speculation is ramping up again: could this be the month when altcoin season really kicks in?

In this analysis, the CCN website looks at data, sentiment, and market structure to uncover whether the long-awaited rotation towards altcoins is actually happening – or just another illusion.

Altcoin Season at Critical Point

To date, the TOTAL2 index, which tracks the market capitalization of all cryptos except Bitcoin, has been consolidating in the range of $1.51 trillion to $1.66 trillion over the past few weeks.

Read also: Analysts Predict 123% Surge in Crypto as ETF Approval Looms as Key Catalyst

This flat movement reflects market uncertainty, where traders are waiting for a trigger that could determine the next big trend. One key indicator to watch is the Chaikin Money Flow (CMF), which has recently dropped to the zero line.

Although this signals weakening buying pressure, a closer inspection of the chart shows CMF is attempting to break the downtrend.

If the CMF manages to break above the zero line, it could signal capital inflows into altcoins. Moves like this usually precede a rotation of capital out of Bitcoin, potentially triggering the long-awaited altcoin season.

In addition to technical analysis, macro conditions can also provide an additional boost. An expected interest rate cut by the Federal Reserve in September could add liquidity to risky assets, including cryptocurrencies.

Historically, lower interest rates have reduced the attractiveness of traditional interest-bearing instruments, prompting investors to seek returns in more speculative markets.

No Bitcoin Dominance Yet

For altcoins, these predictably favorable macro conditions could create an ideal environment for breakouts. However, for the altcoin season to truly take shape, Bitcoin’s (BTC.D) dominance must continue to decline. Currently, BTC.D has dropped below 60%.

On the 4-hour chart (6/9), BTC.D is consolidating in a symmetrical triangle pattern. If dominance breaks to the downside, it will confirm Bitcoin’s weakening control over market liquidity.

More than that, it could also open the door for altcoin season. However, that will only happen if the TOTAL2 chart shows an improvement from its current state.

Read also: Bitcoin vs Ethereum: Weekly Highlights, Price Action, and Key Milestones!

Final Thoughts

In conclusion, whether the altcoin season will actually start this month is still uncertain. The market is watching closely, as an expected rate cut by the Fed in September could ease liquidity conditions.

While Bitcoin and Ethereum (ETH) will most likely continue to anchor investor confidence, momentum could actually shift to altcoins, potentially triggering the early stages of altcoin season.

If the rate cut coincides with stronger on-chain activity and a surge in retail participation, September could be the start of a broader and more aggressive altcoin cycle.

However, the outlook is not guaranteed. If demand fails to grow, many altcoins may struggle to gain traction, resulting in prices remaining stagnant instead of soaring.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• CCN. Altcoin Season Stalls as Market Awaits Potential September Rate Cut. Accessed on September 8, 2025