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In a post shared on X, Lark Davis, an entrepreneur and cryptocurrency investor, shared his outlook on the current state of the altcoin market. The Bitcoin proponent observed the current metrics reflecting that the majority of leading altcoins are still behind Bitcoin, and further asserted that the long-awaited altcoin season may not kick off anytime soon.
However, a highly anticipated announcement could be the game-changer that positions Altcoins for a continuous upward rally.
“According to the Altcoin Season Index, it usually kicks off when 75% of the top 50 coins outperform Bitcoin over the last 90 days. So far, only 30 (60%) of the top 50 coins have outperformed $BTC in the past 90 days. So, we’re not there yet.” Davis wrote.
However, Lark Davis asserts that come October, when the fourth quarter of the year begins, a “full-blown altcoin season” could be in play, following the reduction in Fed rates.
 
Another market player who appears expectant at this time has shared a chart displaying the total crypto market cap excluding BTC and ETH. Per the analysts’ interpretation of the data, Altcoins are brewing the cup and handle pattern—a technical chart pattern that indicates that euphoria is right around the corner.
The analyst who remains convinced that history will repeat itself is predicting a surge in market cap value that will take the market above the $3 trillion level.