#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 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.

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

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

After the Fed's statements, the dollar index rose sharply, which usually puts pressure on the crypto market as it reduces its investment appeal.

📊 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 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 drop and affecting all currencies.

#MarketTurbulence #REVABinanceTGE #BTCHashratePeak #ETHTreasuryStrategy.