This round of Bitcoin bear market has lasted 237 days, the fourth longest in history, but the decline is the smallest ever.

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Mars Finance News, June 28, according to the latest research by CoinGecko, Bitcoin has experienced a total of 7 bear markets since 2014. CoinGecko defines a bear market as a period when Bitcoin's closing price remains below its 200-day simple moving average (SMA) for more than 30 consecutive days. The 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 has fallen from its all-time high of approximately $124.8k in January 2025 to around $58,115 on June 25, with a maximum drawdown of 53.43% during the period, the smallest decline among all bear markets. CoinGecko believes that the relatively moderate decline in this bear market may be attributed to increased institutional participation, maturing market infrastructure, and macro factors such as interest rate fluctuations and capital flows toward artificial intelligence. In contrast, the three bear markets triggered by major industry events in 2014-2015, 2018-2019, and 2022-2023 each saw maximum drawdowns between 76.7% and 83.6%. CoinGecko points out that historical data shows it typically takes 65 to 166 days for Bitcoin to reclaim its 200-day moving average after confirming a cyclical bottom. If the June 25 low holds, it could reclaim the moving average as early as the end of August this year, but a longer recovery period cannot be ruled out.
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