BTC is under US$52K

more to come

The latest unsourced rumour is of an 80% tax on crypto.

  • would be applied to capital gains

This seems very unlikely indeed, but there it is - that's the rumour that appears to be the catalyst for the latest bout of weakness. If you don't like it please feel free to go right ahead and shoot the messenger (metaphorically, in the comments please), for whatever good that will do you ;-)

BTC is under US$52K

The weekend plunge in BTC was attributed to an electricity outage in China, a whale sale on this, and also on these tax rumours. Its the tax rumour mill that has persistently weighed since then. The background to all this is the Coinbase IPO the previous week, which seems to have been a peak BTC event for this run at least ... selling has been relentless since.