This bad news did not affect the price of bitcoin

Ethereum and Security exchange commission (SEC) issue is still there as it happened with XRP. Ethereum was known for the proof work mechanism but with the new updates it is now proof of stake and because of this new update SEC is targeting Ethereum. If the Ethereum team failed to prove that it is a commodity then in the worst-case scenario they can go to jail along with paying a penalty. In this case, Ethereum can crash, and also not good for the whole market. However, I don't think it will come to this point but still, it is a concern.

Remember, bitcoin is a commodity because it is based on proof of work and mining is there. Ethereum issuing new tokens by staking which is why it is no more commodity and this is said by SEC. This is two days old news but there is no effect on the market although the market is pumping.

Let me know what is your opinion about the bitcoin price and its future.

Image source 1 , 2 ,
3,
4