This could be one of the reasons for BTC price to go down, but right now, the market is feeling the need to go back to the last low and confirm it.

Big Whales are very aware of the taxes they have to pay, so If they don't agree with it, they will just change country and avoid them. For others that don´t have that money to change to other country (not big whales) they will be affected and this could have a even worse effect on BTC price.