In Q2, the altcoin market cap, excluding Ether, surged by $126 billion, leading to talks of an altseason. Analysts are optimistic about a potential rally, with comparisons to the 2017 bull run. Javon Marks highlighted a chart showing the rise of altcoins against the US money supply, indicating a possible significant rally. The recent bounce off a critical retest level and the observation of an inverse head-and-shoulders pattern further fuel expectations of a bullish trend. However, some analysts remain cautious, pointing out that the altcoin market cap increase has not yet shown a higher time frame bullish shift. They believe that a breakdown in Bitcoin's dominance trendline is crucial for a substantial altcoin movement. Despite lower trading volumes, signs of recovery and the Altcoin Season Index suggest growing optimism for an upcoming altcoin rally. Read more AI-generated news on: https://app.chaingpt.org/news

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