Altcoin Season Searches Fall 88% as Ethereum Price Slumps
Google Trends data shows that investor searches for “altcoin season” plunged by 88% in August after Ethereum’s price fell from its 2025 peak near $4,700 to around $4,100. This sharp decline in altcoin season interest coincides with Ethereum’s recent downtrend and Bitcoin retracing from its all-time high of $124,000. Despite Bitcoin’s market dominance holding below 60% (58.66%) and ETH dominance above 10% (13.47%), the altcoin season index stands at 51—between Bitcoin season (25) and full alt season (75). Market analyst Milk Road notes early breakout signals on ETH/BTC charts and a rollover in Bitcoin dominance that mirror patterns from 2017 and 2021. However, persistent resistance on the ETH/BTC pair and other headwinds suggest a full altcoin season has yet to materialize.
Bearish
The 88% drop in altcoin season searches and Ethereum’s price slump signal a clear bearish shift in market sentiment. Historically, similar pullbacks after local ETH highs led to short-term altcoin underperformance as investors rotated back into Bitcoin or stayed liquid. Although Bitcoin dominance remains under 60%—maintaining potential for a future alt season—the current decline in investor interest and persistent resistance on key ETH/BTC levels point to continued downward pressure. In the short term, traders are likely to remain cautious, reducing altcoin exposure. Over the long run, a decisive ETH/BTC breakout could reignite bullish momentum, but the immediate outlook favors bearish conditions.