#MarketTurbulence

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

📢 9:30 AM New York time (4:30 PM Jordan time)

A statement from the Chairman of the Federal Reserve, 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 led investors to expect continued tightening of monetary policy, and therefore sell 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 typically puts pressure on the crypto market as it reduces the attractiveness of investing in it.

📊 Negative economic data for China

A decline in Chinese industrial production growth was announced, causing global concern about demand and emerging markets.

🤖 Automated selling by whales and hedge funds

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