**Bitcoin Bull Market Remains Strong, Analyst Says**
Bitcoin may not have reclaimed its March all-time high, but the bull market is still going strong, according to CryptoQuant researcher Axel Adler. In a recent report, Adler pointed to two key metrics: the Bubble vs. Crush Market Structure and the MVRV Z-score, indicating a healthy market.
- **Bubble vs. Crush Market Structure**: Currently at 1.02, suggesting no bubble.
- **MVRV Z-score**: At 1.8, slightly above the annual average, indicating minimal overvaluation.
Bitcoin is trading at $59,236, struggling to hold the $60,000 mark. Traders note this phase as a typical consolidation period before potential upward movement.