Bitcoin and Crypto Talk (Merged)(includes NFT)

I wonder if any of this sell off is due to the loophole that allows you to take a loss on crypto and immediately buy back in to offset stock gains.

Someone concerned about an up coming crash might decide to sell out of certain positions and then move some recently bought BTC for a loss to cover that gain. They could then use the gain to buy more BTC than they sold at the lower price.