@popijiang
If the US SEC issues a stricter regulatory statement, it will likely trigger market panic. The market panic index (VIX) will rise, and investors' risk - taking appetite will decrease, leading them to sell cryptocurrencies such as BTC and ETH, which in turn causes their prices to fall. As the two leading cryptocurrencies, BTC and ETH are highly sensitive to regulatory news. In the short - term, if the SEC's regulatory details remain unclear, the resulting uncertainty will exacerbate market volatility, and the prices of BTC and ETH may decline in a volatile manner. Conversely, if the SEC releases relatively mild regulatory signals, the VIX will fall, and their prices are expected to stabilize or even rebound.