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When will crypto winter end??Crypto Winter Spills Over Into In March , a combination of rising interest rates, lack of risk management and a regulatory crackdown. The exact timing of the crypto winter of is somewhat up for debate, starting in earnest around the time of the collapse of TerraUSD and. And actually crypto winter may have ended before last week, if we'd paid more attention. Warmer times were already on the way back in January.