[Morgan Stanley: Bitcoin enters 'autumn,' advises profit-taking before potential 'winter'] Morgan Stanley investment strategist Denny Galindo stated that Bitcoin is currently in the 'autumn' phase of its four-year cycle, which is an opportune time for investors to harvest profits. He warned that the market might soon enter 'winter,' a phase characterized by price declines. Galindo recommends investors take profits before the market cools down. Recently, Bitcoin's price fell below the critical technical indicator, the 365-day moving average, which is considered a bearish signal. Meanwhile, sources of market liquidity, such as stablecoins and ETFs, have seen inflows stagnate. Nevertheless, Morgan Stanley's research head Michael Cyprys pointed out that institutional investors still view Bitcoin as a tool to hedge against inflation and have lowered the investment threshold through ETFs. As of now, the total assets of U.S. spot Bitcoin ETFs have exceeded $137 billion, while Ethereum ETFs have reached $22.4 billion.