Altcoin Season Interest Plummets 88% in August as Ethereum Price Tanks

Altcoin mania hits brutal reality check as Ethereum's collapse triggers sector-wide panic.

The Great Retreat

Search volumes for altcoin investments cratered 88% last month—mirroring Ethereum's precipitous drop. Retail traders fled speculative assets faster than institutional whales could dump their bags.

Dominance Game

Bitcoin's market share surged as investors raced toward relative safety. The 'flippening' narrative evaporated quicker than a meme coin's liquidity during a micro-crash.

Liquidity Exodus

Altcoin exchanges saw volumes evaporate as leveraged positions got obliterated. Trading desks reported margin calls exceeding the GDP of small nations—all while VCs quietly rotated into private markets.

Wake-up Call

The numbers don't lie: when ETH stumbles, the entire alt complex bleeds out. Turns out betting against monetary gravity works—until it doesn't. Maybe those 'stable' yields weren't so stable after all.

Interest In Altcoin Season Falls Alongside Ethereum Price

Google Trends data shows that investors are no longer searching for altcoin season like they did earlier in the month, with interest crashing by 88%. The search volume for the ‘alt season’ keyword had peaked on August 13 but has since then been on a downward slope. Notably, this coincides with the Ethereum price crash. 

Related Reading: ethereum Falls Behind Solana In Major Metric, Is Altcoin Season At Risk?

The Ethereum price had hit its current 2025 yearly high of around $4,700 a week ago but has since been on a downtrend, dropping to as low as $4,100 in the process. ETH usually leads other altcoins into this alt season, when they outperform the Bitcoin price. However, the recent pullback indicated that this period isn’t in sight yet, seeing as Ethereum and other altcoins slid as BTC retraced from its all-time high (ATH) of $124,000, which it reached last week. 

However, a positive regarding the altcoin season is the fact that Bitcoin’s dominance has remained below the 60% level, currently sitting at around 58.66%. Meanwhile, ETH’s dominance has also remained above 10%, currently sitting at 13.47%. Furthermore, the Ethereum price has shown strength on this pullback, suggesting that this fabled alt season might still happen. 

Blockchain Center data shows that the crypto market is currently between altcoin season and Bitcoin season. The altcoin season index is currently at 51, well above Bitcoin season at 25 and below the alt season at 75. It is officially the alt season when 75% of the top 50 coins by market cap outperform Bitcoin over a 90-day period. 

Alt Season Is Still On The Horizon

In an X post, market commentator Milk Road said that the charts are flashing early signals of an altcoin season, with ETH/BTC breaking out, Bitcoin’s dominance rolling over, and the altcoin index trending higher. However, Milk Road added that there are still a few things holding the alt season back. 

Related Reading: Bitcoin Dominance Falls Below Critical Level For The First Time This Cycle, Altcoin Season Coming?

One is that the Ethereum price has been stuck under the same resistance level on its BTC chart for almost three years, although a breakout now looks imminent, with ETH starting to press through. Milk Road stated that BTC’s share of the market has finally cracked its three-year trend. The current setup of the 50 and 200 Exponential Moving Averages (EMAs) is said to look almost identical to the 2017 and 2021 cycles, when altcoins exploded after BTC lost dominance. 

At the time of writing, the Ethereum price is trading at around $4,280, down in the last 24 hours, according to data from CoinMarketCap.