Bitcoin recovery may still be weeks away, with CoinGecko saying BTC▼$60,000.00 needs a 22% rally to reclaim its 200-day moving average.
Bitcoin‘s 200-day moving average remains 22% above spot price, leaving BTC short of a key recovery level after 233 days below the trend line, analysts say.
Data from CoinGecko shows Bitcoin has spent 233 days below its 200-day moving average as of June 24, making the current cycle the fourth longest over the past 12 years.
Read also: Bitcoin Bear Market Losses Put BTC’s Bottom Case to Test
It is still shorter than the 2018-2019 bear market that lasted for 385 days, the 2022-2023 bear that has lasted for 381 days, and the 2014-2015 bear that lasted for 321 days.
But the pullback this time is much more gentle. Bitcoin fell 51.2% off the top that it set back in January 2025 of $124,770, with the cycle low currently being $60,862 set on June 7.
By contrast, each of the past three significant bear markets reduced Bitcoin by 76.7% to 83.6%, CoinGecko’s data shows.
Bitcoin Recovery Level Still Far Away
CoinGecko said Bitcoin’s 200-day moving average was $76,450 on June 24, about 22% above the $62,650 spot price, leaving BTC well short of a level that has often acted as resistance during recoveries.
Since Bitcoin was only about 3% above its June 7 low, it’s still too early to confirm that the bottom is already in.
Previously, in other bear cycles, the time needed for Bitcoin to retake the 200-day moving average following the end of a trough was between 65 to 166 days. Assuming June 7 is the end point, CoinGecko says even the fastest scenario for historical precedent would see the recovery only by August.
Read more: Bitcoin Crashes Below $60K for First Time Since October 2024 — What’s Happening in Crypto on June 25
