This round of the bitcoin bear market has lasted 237 days, making it the fourth longest in history, but the decline is the smallest on record.
BlockBeats News, June 28, according to the latest research from CoinGecko, Bitcoin has experienced a total of seven bear markets since 2014. CoinGecko defines a bear market as a period when Bitcoin's closing price stays below the 200-day simple moving average (SMA) for more than 30 consecutive days.
Data shows that, as of June 28, 2026, the current 2025-2026 bear market has lasted 237 days, making it the fourth longest bear market in history. Bitcoin fell from a record high of around $124,800 in January 2025 to about $58,115 on June 25, with the maximum drawdown during this period being 53.43%, the smallest decline among all past bear markets.
CoinGecko believes that the relatively mild decline in this bear market may be attributed to increased institutional participation, the gradual maturation of market infrastructure, as well as macro factors such as interest rate fluctuations and capital flowing into artificial intelligence. By comparison, the three bear markets triggered by major industry events in 2014-2015, 2018-2019, and 2022-2023 all saw maximum drawdowns ranging from 76.7% to 83.6%.
CoinGecko points out that historical data shows it typically takes Bitcoin 65 to 166 days to rise back above the 200-day moving average after a confirmed cyclical bottom. If the low on June 25 proves to be confirmed, the earliest Bitcoin could regain the moving average is by the end of August this year, though an extended recovery cycle cannot be ruled out.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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