TechFlow news, August 15 — Coinbase Research released its monthly outlook report indicating that the cryptocurrency market may enter a full-fledged small-cap token rally cycle by September 2025. The report shows Bitcoin's market dominance dropped from 65% in May 2025 to 59% in August, while the total market capitalization of small-cap tokens has surged over 50% since early July, reaching $1.4 trillion.
Liquidity data indicates that cryptocurrency market liquidity, after six months of decline, has started to recover. The report suggests that anticipated Federal Reserve rate cuts in September and October could prompt a portion of the $7.2 trillion currently held in money market funds to shift into risk assets, potentially driving new capital inflows into the crypto market.
