BTC June: Will There Be a Sell-off Due to U.S. Taxes?
June is approaching, and many traders are starting to ask: Will BTC face a sell-off due to tax pressure from the U.S.? Below is my personal perspective, based on market behavior and the latest on-chain data.
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1. June – Tax Season and Profit-Taking Pressure
In the U.S., June is typically the time when individual and institutional investors must prepare to file income taxes from crypto trading. With BTC having risen sharply since the beginning of the year and just hitting a new peak around $110,000, many investors will choose to sell a portion to take profits and create liquidity to pay taxes.
According to data from previous years (2021, 2022, 2023), BTC usually experiences a 10-20% correction in June due to this very pressure.
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2. Signs of Distribution Have Started
In the last week of May, some whale wallets began transferring BTC to exchanges – a potential sign of preparing for a sell-off.
The funding rate on derivative exchanges like Binance and Bybit is currently high – indicating excessive FOMO Long sentiment, which could easily be “reversed” if liquidity is weak.
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3. Possible Scenarios in June
BTC is likely to correct to the $102,000 – $104,000 range to shake out weak Long positions.
If there are no additional negative news from the U.S., BTC may accumulate and recover towards the end of the month.
> Strong support: $101K – $102K
Strong resistance: $109K – $110K
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4. Suggested Trading Strategy
Short Position (preferred if rejected at resistance):
Entry: $108,500 – $109,200
TP: $104,000 – $102,000
SL: $110,200
Long Position (bottom-fishing if there is a good reaction at support):
Entry: $102,000 – $103,000
TP: $107,000 – $108,000
SL: below $101,000
