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

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

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

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.

📊 Negative economic data from China

It was announced that China's industrial production growth declined more than expected, causing global concerns about demand and emerging markets.

🤖 Automated selling from whales and hedge funds