#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 Federal Reserve, Jerome Powell, that an interest rate cut may be delayed due to ongoing inflation above the target, and that the U.S. economy remains strong.

➡ This made investors expect continued tightening of monetary policy, leading to the sale of 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 the attractiveness of investing in it.

📊 Negative economic data from China

A decline in Chinese industrial production growth was announced, 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 (such as $58,000), selling was activated.