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Bitcoin Headed Below $60K Says Hot-Handed Crypto Hedge Fund Manager Bitcoin, the world’s largest cryptocurrency, is facing mounting pressure and could soon drop below the $60,000 mark, according to Quinn Thompson, founder of the crypto-focused hedge fund Lekker Capital. With economic uncertainty growing, Thompson warns that the crypto market is entering a volatile phase that could last for the next six to nine months. A Perfect Storm for Crypto? Several key factors are contributing to the bearish sentiment surrounding Bitcoin and the broader digital asset market: 1. Job Cuts and Economic Slowdown – The economy is seeing significant layoffs across multiple industries, including the tech sector. 2. Tariffs and Trade Tensions – The global economic landscape is shifting as new trade tariffs come into play. 3. Federal Reserve’s Restrictive Policy – The U.S. Federal Reserve remains firm in its restrictive monetary stance, keeping interest rates high to combat inflation. 4. New Immigration Policies and Workforce Impact – Recent shifts in U.S. immigration policies could also affect labor markets and economic growth. Bitcoin’s Short-Term Outlook Bitcoin has shown resilience in the past, but Thompson believes the current macroeconomic conditions create significant downside risk. He predicts that the next six to nine months will be a challenging period, with Bitcoin potentially breaking below the $60,000 level before finding a new equilibrium. Should Investors Be Worried? While short-term volatility could shake out weak hands, seasoned investors may see this as a buying opportunity. Market cycles are a natural part of the crypto landscape, and downturns often set the stage for future rallies. For now, traders and investors should prepare for heightened market fluctuations and closely monitor macroeconomic developments that could influence Bitcoin’s trajectory in the months ahead.
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