Bitcoin's 2025–2026 bear market hits 237 days, ranking fourth-longest on record with the smallest peak-to-trough drop

BlockBeats reports that CoinGecko data released June 28 shows Bitcoin has logged seven bear markets since 2014. CoinGecko defines a bear market as any stretch where Bitcoin's daily close stays below its 200-day simple moving average (SMA) for more than 30 consecutive days. As of June 28, 2026, the current 2025–2026 bear phase has run 237 days, making it the fourth-longest on record. Bitcoin has slid from its January 2025 all-time high of about $124,800 to roughly $58,115 on June 25, marking a maximum drawdown of 53.43%—the shallowest decline among all bear markets in CoinGecko's dataset. CoinGecko attributes the comparatively mild drop to heavier institutional participation, more mature market infrastructure, and macro forces such as interest-rate volatility and capital rotating toward artificial intelligence. By contrast, the three bear markets tied to major industry shocks—2014–2015, 2018–2019, and 2022–2023—posted maximum drawdowns ranging from 76.7% to 83.6%. Historically, CoinGecko says Bitcoin typically needs 65 to 166 days to climb back above the 200-day moving average after confirming a cyclical bottom. If the June 25 low holds, Bitcoin could reclaim that level as early as late August, though the timeline could also extend.