Morgan Stanley’s wealth management team has issued a clear recommendation to investors: it is the perfect time for profit-taking on Bitcoin. The bank’s investment strategist, Denny Galindo, explained that the asset is entering its “fall season,” a historical cyclical phase of profit reaping that usually precedes a “crypto winter.” According to Galindo, the market follows a “three-up, one-down” pattern, meaning current elevated prices represent a strategic exit opportunity.
The context supports this caution. The pioneer crypto is trapped in a consolidation range between $106,000 and $116,000, affected by liquidity stagnation reported by Wintermute. Furthermore, Bitfinex data reveals that long-term holders are aggressively selling about 104,000 BTC monthly, the largest distribution since July. This selling pressure is counteracting ETF interest, weakening key technical supports, and stalling the typical November bullish momentum.
Experts warn that unless ETF inflows or spot demand reactivate, Bitcoin risks descending toward the $100,000 zone. Although Michael Cyprys of Morgan Stanley Research affirms that institutions continue to view the asset as “digital gold” and a hedge against inflation, the sluggishness in corporate capital allocations suggests that the cyclical slowdown could persist.
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