BlockBeats News, June 28th. 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 where Bitcoin's closing price has remained below the 200-day Simple Moving Average (SMA) for over 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 in history. Following Bitcoin's pullback from its all-time high of around $124,800 in January 2025 to about $58,115 on June 25, the market experienced a maximum drawdown of 53.43%, the smallest among all bear markets.

CoinGecko believes that the relatively moderate decline in this bear market may be attributed to increased institutional participation, the gradual maturation of market infrastructure, and macroeconomic factors such as interest rate fluctuations and the influence of AI on fund flows. In contrast, the three bear markets triggered by major industry events in 2014-2015, 2018-2019, and 2022-2023 saw maximum drawdowns ranging from 76.7% to 83.6%.

CoinGecko points out that historical data indicates Bitcoin typically takes 65 to 166 days to retest the 200-day moving average after confirming a local bottom. If the low point on June 25 is established as the bottom, Bitcoin could potentially retest this average by the end of August this year at the earliest, but a further extension of the recovery period is also not ruled out.