分析师：比特币已进入“四年周期秋季”，当前是“收获季节”

Core Viewpoint - The cryptocurrency market has entered the "autumn phase" of Bitcoin's four-year cycle, indicating a potential peak before a downturn, according to Morgan Stanley strategist Denny Galindo [1] Group 1: Market Analysis - Historical data shows that Bitcoin's price cycles typically follow a "three up, one down" pattern, suggesting that investors should gradually lock in profits before the "winter" arrives [1] - The current phase is described as a "harvest season," but the duration of this phase and the timing of the subsequent downturn remain uncertain [1] Group 2: Investment Perspective - Analysts believe this metaphor indicates that Wall Street is viewing the Bitcoin market through a cyclical asset framework, similar to commodities or macro liquidity-driven investment cycles [1]