While the Securities Exchange Commission wants to characterize many crypto assets as securities, the market appears to have a different idea, treating them like commodities.
Meanwhile, bitcoin and ether are up 5% and 4%, respectively, over the past 24 hours. Bitcoin’s 5.4% contraction on Monday, doesn’t even rank within the top 50 largest one-day declines since 2021. Additionally, SEC actions toward crypto may actually be highlighting the importance of digital assets in the minds of crypto holders.Bitcoin and ether have recently decoupled from traditional financial indexes like the S&P 500, and now they also appear to be decoupling from crypto organizations themselves. Their separate path from Coinbase's share price aligns more with physical commodities.
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