#MarketTurbulence

These are the main reasons and news that triggered the sudden drop today at the following times:

📢 9:30 AM New York Time (4:30 PM Jordan Time)

A statement from the U.S. Federal Reserve Chairman Jerome Powell that interest rate cuts may be delayed due to inflation remaining above target, and that the U.S. economy is still strong.

➡ This made investors anticipate continued tightening of monetary policy, leading to the selling of high-risk assets such as cryptocurrencies.

💵 Movement of the U.S. Dollar Index (DXY)

After the statements from the Fed, the dollar index rose sharply, which typically puts pressure on the crypto market as it reduces the attractiveness of investing in it.

📊 Negative economic data from China

It was announced that the growth of Chinese industrial production declined more than expected, causing global concerns about demand and emerging markets.

🤖 Automated selling by whales and hedge funds

As the price dropped below important support levels for Bitcoin (like $58,000), large sell orders were triggered, accelerating the drop and affecting all currencies.