Global search interest in 'alt season' has plummeted by over 50% in just one week, according to Google Trends data. The interest score dropped from a peak of 100 on August 13th to a mere 45 by August 20th, 2025, indicating a rapid cooling of retail investor enthusiasm for alternative cryptocurrencies.
On-chain analyst Cristian Chifoi suggested that major exchanges like Coinbase may have initially amplified the 'alt season' narrative through promotional efforts. However, the dramatic decline in search volume suggests unmet expectations for a broad altcoin rally, leading to investor fatigue and potential capital rotation back into Bitcoin or stablecoins.
Meanwhile, the Altcoin Season Index remains at 45, indicating early but limited capital rotation into altcoins. Bitcoin's market dominance has declined from 65% in May 2025 to approximately 59% by August 2025, as noted by Coinbase CEO Brian Armstrong, who views this as signaling 'the early stages of altcoin season.' Historical patterns show that BTC dominance MACD bearish crossovers have previously preceded major altcoin rallies.
Analysts caution that Federal Reserve policy decisions could significantly impact future trends, with potential interest rate cuts possibly redirecting $7.2 trillion into riskier assets including cryptocurrencies. Despite the declining search interest, institutional factors and macroeconomic conditions suggest underlying potential for altcoin growth if current trends continue.