The April 15 Tax Day Catalyst

Hougan expects crypto weakness heading into April 15—the deadline for Americans to file taxes and pay capital gains from 2025. 

Investors who harvested gains last year must now pay taxes, potentially forcing them to sell crypto to cover the bill.

“My experience historically is that crypto is often weak heading into tax day and then starts to rally right around then,” Hougan told Milk Road this week.

The theory carries extra weight this year after the outsized gains many traders booked in late 2024 and early 2025 — especially from the Trump memecoin’s surge in January 2025.

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