The altcoin market in India has seen significant growth in Q2, with a $126 billion increase in market cap, excluding Ether (ETH). Analysts are now speculating on the possibility of an “altseason,” with experts like Javon Marks suggesting that altcoins could be on the brink of a major rally. Marks pointed out a breakout in the TOTAL3 index, which tracks the total market cap of altcoins excluding Bitcoin (BTC) and Ethereum, against the US money supply. This suggests that altcoins are gaining value relative to the liquidity in the US economy, attracting more investor interest and capital inflow. Another analyst, Moustache, highlighted a bullish pattern in the TOTAL3 chart, indicating the potential for altcoins to surge to “much higher levels.” However, not all analysts are as optimistic, with some like Crypto Scient warning that the altcoin market has yet to show a higher time frame bullish trend shift. DonaXBT also emphasized the need for a significant breakdown in Bitcoin’s dominance trendline for altcoins to experience a substantial move. Despite the mixed sentiment, altcoin spot trading volumes in India remain below $10 billion, indicating that the market is still in the early stages of a potential rally. The Altcoin Season Index supports this outlook, suggesting a shift in market dynamics that could lead to increased momentum for altcoins. Overall, investors in India are closely monitoring these developments and remain optimistic about the potential for an altcoin rally in the near future.