#MarketTurbulence

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

๐Ÿ“ข 9:30 AM New York time (4:30 PM Jordan time)

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

โžก This made investors expect continued tightening of monetary policy, leading to the selling of high-risk assets like cryptocurrencies.

๐Ÿ’ต The U.S. Dollar Index (DXY) moved

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