Bitcoin posts worst June since 2022

• Bitcoin fell 20.5% in June to US$58,526, marking its weakest monthly performance since June 2022.
• Analysts said the close below the 200-week moving average but above realised price could indicate further downside risk.
• Several market analysts expect Bitcoin to remain under pressure before a potential cycle bottom later in 2026.

Bitcoin (CRYPTO:BTC) fell 20.5% in June to close at US$58,526, its weakest monthly performance since June 2022, with analysts saying the price action suggests the current bear market may not have reached its bottom.

The monthly close remained below Bitcoin's 200-week moving average of about US$62,000 but above its realised price of about US$52,000, a combination that differs from previous bear market lows when prices fell below realised value.

“ALL previous bear market bottoms were below realised price,” said PlanB, creator of the stock-to-flow pricing model.

PlanB said Bitcoin could decline to around US$52,000, while Bitrue Research Institute research lead Andri Fauzan Adziima said the current market structure signals the bear market bottom may still lie ahead based on previous cycles, although he expects institutional participation to make this cycle less severe.

Other analysts said Bitcoin continues to trade near an important support area, with Bitget Wallet research analyst Lacie Zhang identifying around US$55,000 as a potential support level if further declines occur, while Bitcoin does not have a share price because it is a cryptocurrency.

Bitcoin's realised price represents the average acquisition cost of all coins in circulation based on on-chain data and has historically acted as a key support level during bear markets.

ITC Crypto founder Benjamin Cowen said previous market cycles suggest Bitcoin could reach a cycle low during the second half of a United States midterm election year, with the next US midterm elections scheduled for November 3.

At the time of reporting, Bitcoin price was $60,756.21.