You say button is loose, and you're calling 60 to win 160, so it looks like an easy call. His range may well be any two, but even lowing it to the top 30.9% of hands, you're just over 33% to win, making this call easily correct.
x2.....with almost 3 to 1 on a call you have to call with almost anything here....and you may very well have 2 live cards, with 2.5 bb left he is going to be pushing with just about anything.