The US Inflation rates have reached levels not seen since 1981. Therefore the market is bracing for some tough action to control the surging 8.6% inflation.
Traders are expecting The Federal Reserve to bring forth three more 0.5% rate hikes by the end of November.
As per the data obtained from CoinShares’ weekly Digital Asset Fund Flows report, investors in America have pumped out $98 million, while Europe accounted for just $2 million.
The Number One and Number two crypto coins- Bitcoin (BTC) and Ethereum (ETH) were the most affected by the flight of capital.
Funds worth $56.8 million was withdrawn from Bitcoin (BTC) coffers while Ethereum (ETH) lost $40.7 million.