Cryptoquant analyst Axel Adler Jr. released a market analysis stating that both Bitcoin and the S&P 500 index are currently maintaining at the late stage of a bull market. The S&P 500 index has a return rate of 13% over the past 52 weeks, indicating that the market is still in a risk-on mode - at this stage, investors are optimistic about the economic outlook and are more inclined to allocate to stocks, cryptocurrencies, and other risky assets in pursuit of higher returns.
