Crypto winter may last until end of 2023

The U.S. Fed has been raising interest rates since March to tame inflation, raising rates from almost zero to a 15-year high of 3.75%-4%. The Fed is likely to continue to increase rates until it achieves its target of a 2% inflation rate.

• The U.S. consumer price index, a key inflation indicator, was up 7.7% in October from a year earlier, less than an expected 7.9%, and down from 8.2% in September, indicating a slowdown in inflation.