Analysts remain divided on whether gold’s biggest rival, Bitcoin, is merely in a correction phase — or if a new bear market has already begun.
Bitcoin briefly fell below $99,000 before bouncing back on Nov. 5. The move pushed it under its 365‑day moving average. According to Julio Moreno, head of research at CryptoQuant, breaching this average has traditionally signaled a shift in sentiment toward the bearish side.
Recently, investment strategists from Morgan Stanley weighed in on the speculated bearish phase for Bitcoin.
Bitcoin enters ‘fall season’
In the Nov. 11 episode of the Crypto Goes Mainstream podcast, Denny Galindo, investment strategist at Morgan Stanley Wealth Management, compared the market’s current state to the autumn period of a natural cycle — a time to reap profits before the onset of “winter.”
“We are in the fall season right now,” Galindo said. “Fall is the time for harvest. So, it’s the time you want to take your gains. But the debate is how long this fall will last and when the next winter will start.”
Galindo explained that historical data shows Bitcoin (BTC) tends to follow a “three-up, one-down” rhythm: three years of growth followed by one year of decline.
He emphasized that investors should remain disciplined as cyclical downturns are part of Bitcoin’s broader maturation process.
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Bitcoin’s winter might still be jolly
While Galindo cautioned that a Bitcoin “winter” could follow the current cycle phase, some analysts remain optimistic that a Santa rally may lift BTC prices before year-end.
A Santa rally in Bitcoin describes the historical tendency for BTC to climb during the final stretch of December, usually between Christmas and New Year’s Day.
The pattern resembles movements seen in traditional equity markets, where year‑end optimism, portfolio adjustments, and thinner trading volumes often contribute to upward momentum.
For Bitcoin, this late‑December surge is typically linked to lower exchange liquidity, tax‑related positioning, and renewed investor risk appetite ahead of the new year.
Historically, BTC has ended most Decembers in positive territory, logging gains between 8% and 46%, which has made the so‑called “Santa Claus rally” a recurring point of focus for traders and analysts each holiday season.
Morgan Stanley warns gold’s biggest rival is entering ‘fall season’
Analysts remain divided on whether gold’s biggest rival, Bitcoin, is merely in a correction phase — or if a new bear market has already begun.
Bitcoin briefly fell below $99,000 before bouncing back on Nov. 5. The move pushed it under its 365‑day moving average. According to Julio Moreno, head of research at CryptoQuant, breaching this average has traditionally signaled a shift in sentiment toward the bearish side.
Recently, investment strategists from Morgan Stanley weighed in on the speculated bearish phase for Bitcoin.
Bitcoin enters ‘fall season’
In the Nov. 11 episode of the Crypto Goes Mainstream podcast, Denny Galindo, investment strategist at Morgan Stanley Wealth Management, compared the market’s current state to the autumn period of a natural cycle — a time to reap profits before the onset of “winter.”
Galindo explained that historical data shows Bitcoin (BTC) tends to follow a “three-up, one-down” rhythm: three years of growth followed by one year of decline.
He emphasized that investors should remain disciplined as cyclical downturns are part of Bitcoin’s broader maturation process.
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Bitcoin’s winter might still be jolly
While Galindo cautioned that a Bitcoin “winter” could follow the current cycle phase, some analysts remain optimistic that a Santa rally may lift BTC prices before year-end.
A Santa rally in Bitcoin describes the historical tendency for BTC to climb during the final stretch of December, usually between Christmas and New Year’s Day.
The pattern resembles movements seen in traditional equity markets, where year‑end optimism, portfolio adjustments, and thinner trading volumes often contribute to upward momentum.
For Bitcoin, this late‑December surge is typically linked to lower exchange liquidity, tax‑related positioning, and renewed investor risk appetite ahead of the new year.
Historically, BTC has ended most Decembers in positive territory, logging gains between 8% and 46%, which has made the so‑called “Santa Claus rally” a recurring point of focus for traders and analysts each holiday season.