Expert Warns of Bitcoin Falling Below $60,000

Quinn Thompson, the founder of Lekker Capital, has a bearish outlook on Bitcoin, suggesting that it may drop below $60,000 by the end of the year. He anticipates a gradual decline that will be less volatile than previous crashes, making it more challenging for investors. Thompson predicts a slow grind towards the $50,000-$59,999 range, which would represent a nearly 50% decrease from its recent high of $109,000. He remains skeptical of recent bullish developments, such as the U.S. Sovereign Wealth Fund and Strategic Bitcoin Reserve, dismissing them as mere "empty talk." Thompson attributes his bearish view to concerns over Trump's economic policies, including government spending cuts, immigration restrictions, tariff uncertainty, and Federal Reserve actions, which he believes will negatively impact Bitcoin and other risky assets. Additionally, he suggests that the Trump administration's commitment to fiscal tightening could change if economic conditions worsen before the 2026 midterm elections.