Vosh holds his ground; the market drops first out of respect. At 490 million liquidations, a bloody washout follows. Scaramucci calls for a $70k bottom—see you in July.

Crypto World News reports that the financial markets were hit after the newly appointed Federal Reserve Chair Kevin Wossh announced that interest rates would remain unchanged. According to Crypto World News data, the cryptocurrency market saw about $491.36 million worth of crypto liquidations over the past 24 hours. The S&P 500 index fell 91.5 points, a decline of 1.21%. Gold prices were also affected, dropping to $4,270. The U.S. inflation rate for May 2026 rose to 4.2%, and the high-inflation data caused broad market declines. Bitcoin’s price fell below $60,000, dragging down the entire crypto market. Analyst Anthony Scaramucci believes Bitcoin is currently at its bottom and is expected to reach $70,000 in July.