#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 Chair 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 expect continued tightening of monetary policy, leading to the sale of high-risk assets like cryptocurrencies.

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

After the Fed's statements, the dollar index rose sharply, which typically puts pressure on the crypto market as it reduces the investment appeal of 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 fell below important support levels for Bitcoin (like $58,000), large sell orders were triggered, accelerating the drop and impacting all currencies.