I keep hearing that too, but it's been a little slow to start. To be honest, I think there is still tax overhang. The 'smart money' filed extensions instead of filing taxes, to see if the guidance around crypto profits clears up at all. Technically the money is still due right away, but the 'penalties' for late payment are minimal if you pay within the six-month extension period.

Which means there are still traders taking profits (or waiting for a little recovery to take profits) to cover their taxes. That won't really clear up entirely until mid-October.