'Inflation has peaked' narrative premature, impact to stay: Crypto experts

Bitcoin, the largest cryptocurrency by market cap, has fallen nearly 10 per cent since the Fed announcement of the inflation figures and was trading at $20,367.16 on Wednesday

The US inflation for September was recorded at 8.3 per cent year-on-year (YoY), signalling a slower-than-expected fall in high prices. This led to a sharp sell-off in the global markets. The impact of the figures was more pronounced in the crypto market. And according to experts, it is here to stay.

"The entire [crypto] market is an off-sentiment market. There is no clear sentiment about where the market is headed and when it will start going up...Until the sentiments change, we will continue to see the pressure on Bitcoin and other cryptocurrencies," Manish P Hingar, a chartered accountant and the founder