According to CoinMeta, as reported by CoinDesk, Denny Galindo, the Executive Director of Morgan Stanley's Global Investment Office, pointed out that crypto assets generally follow a four-year cycle, with each cycle consisting of a three-year bull market and a 12 to 14-month bear market, known as the crypto winter. The current crypto winter roughly follows historical patterns, and there are six signs that may indicate the onset of a crypto spring, including: 1) Cycle length: The spring usually begins 17 months before the next halving, and September happens to be 17 months before the next halving. 2) Exchange pressure: Major exchanges typically shut down before the start of the crypto spring, and BitMEX has announced that it will close in September. 3) Bitcoin decline: A 53% drop in Bitcoin could be considered a sign, but it is still milder than previous crypto winters. 4) Mining difficulty: It usually decreases at the end of the crypto winter and has not yet rebounded. 5) Heat capital multiplier: The current multiplier is 13, which is lower than the historical single-digit multipliers. 6) Price trend: A 50% rebound from lows usually coincides with market troughs.