#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 an interest rate cut may be delayed due to persistent inflation above the target, and that the U.S. economy remains strong.

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

📊 Negative economic data from China

It was announced that Chinese industrial production growth declined more than expected, causing global concern about demand and emerging markets.

🤖 Automated selling from whales and hedge funds

As the price fell below significant support levels for Bitcoin (such as $58,000), large sell orders were triggered, which accelerated the drop and affected all currencies.