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The crypto market rout that began after President Donald Trump announced sweeping tariffs on “Liberation Day” continued on Apr. 7.

The market has lost nearly 10% of its value since Apr. 2, and its market cap stood at $2.59 trillion at press time.

Bitcoin , the world’s largest cryptocurrency, slipped to $74,604.47 on Apr. 7 — its five-months-low before recording a modest recovery.

Nearly everyone is warning of a further decline for Bitcoin. The asset could go as low as $70,000 from here, an analyst warned.

However, there is one expert who is rather bullish on the king coin.

Quinn Thompson, the founder and chief investment officer at crypto hedge fund Lekker Capital, shared on X (formerly Twitter) on Apr. 7 that Bitcoin will rally above $110,000 in 2025.

Thompson mentioned his previous predictions to bolster the latest claim.

At press time, BTC was trading at $78,489.51 as per Kraken’s price feeds . The current price is 27% lower than the all-time high (ATH) of $108,786 that it hit on Jan. 20, 2025.

To meet Thompson’s target of the new ATH, Bitcoin needs to surge by 40% within the next nine months.

This is a difficult expectation for BTC to meet, given the current market conditions.

Things are so bad that Michael Saylor's Strategy (Nasdaq: MSTR), well-known for its aggressive Bitcoin acquisition, reported not buying any additional BTC during during the March 31 - April 6 week.

As per Coinglass , the last 24 hours have seen $1.25 billion in crypto assets being liquidated, out of which Bitcoin accounted for more than 35% with $470 million in liquidation.