Almost $100M exits US crypto funds in anticipation of hawkish monetary policy By Cointelegraph

Institutional investors offloaded $101.5 million worth of digital asset products last week in ‘anticipation of hawkish monetary policy’ from the U.S. Federal Reserve according to CoinShares.

U.S. inflation rates hit 8.6% year-on-year at the end of May, marking a return to levels not seen since 1981. As a result, the market is expecting the Fed to take considerable action to reel in inflation, with some traders pricing in three more 0.5% rate hikes by October.