#MarketTurbulence These are the most important 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 US Federal Reserve Chairman Jerome Powell that interest rate cuts may be delayed due to inflation remaining above target, and that the US economy is still strong.

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

💵 Movement of the US Dollar Index (DXY)

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

📊 Negative economic data from China

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

🤖 Automated selling from whales and hedge funds

As the price dropped below important support levels for Bitcoin (such as $58,000), large sell orders were triggered, accelerating the decline and affecting all cryptocurrencies.