Positive signals: If the SEC shows a more open attitude towards crypto ETFs, it indicates potential increased institutional investment. This can lead to a bullish market sentiment, driving up prices. Negative signals: Stricter regulations or rejections can cause a sell - off. For example, if the SEC tightens requirements for ETFs, investors may lose confidence, leading to a decline in market prices. Analyze the language in SEC announcements, hearings, and interactions with crypto firms to gauge regulatory direction.