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

➡ This led investors to expect continued tightening of monetary policy, and thus the selling of high-risk assets such as cryptocurrencies.

💵 Movement of the US Dollar Index (DXY)

After the Federal Reserve's statements, the dollar index rose sharply, which typically puts pressure on the crypto market as it diminishes its investment appeal.

📊 Negative economic data from China

It was announced that China's industrial production growth declined more than expected, causing global concerns about demand and emerging markets.

🤖 Automated selling from whales and hedge funds

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