Morgan Stanley Warns Bitcoin Is Entering Its ‘Fall’ Season — Time to Harvest Gains

Denny Galindo, an investment strategist at Morgan Stanley Wealth Management, suggests Bitcoin follows a four-year market cycle: three years of rising prices followed by one year of decline, which he terms the 'fall season.' He advises investors to use this period to 'harvest' or lock in gains, though the duration of this 'fall' remains uncertain before the next 'winter' consolidation phase begins. This warning aligns with recent technical indicators, such as Bitcoin dipping below its 365-day moving average, which some analysts view as a bearish signal. Furthermore, liquidity drivers like stablecoin and ETF inflows have reportedly plateaued, suggesting momentum may be stalling. Conversely, Michael Cyprys, head of U.S. brokers research at Morgan Stanley, notes that institutional adoption continues to rise, with ETFs holding over $137 billion in assets, which could provide a market cushion even if a cyclical downturn occurs.

(Source：Brave New Coin)