Bitcoin traders unconcerned about SEC action against Binance and blockchain.

The U.S. Securities and Exchange Commission (SEC) recently targeted cryptocurrency exchanges Binance and blockchain (COIN), but this did not seem to affect experienced bitcoin traders, as implied volatility metrics suggest the lawsuits were anticipated and already priced in. Regulatory concerns have been present since the beginning of the year, and the market may have already anticipated and priced in the SEC’s actions. Implied volatility (IV) is based on options data and reflects investors’ expectations for price turbulence over a specific period. It is positively affected by demand for options, which offer protection against bullish or bearish fluctuations. Rising demand for options and the resulting increase in implied volatility often reflect heightened wariness in the market and the potential for increased price turbulence in either direction. However, bitcoin implied volatility has seen a muted rise at best. The SEC’s actions are more damaging to alternative cryptocurrencies than to bitcoin, as BTC and ETH have already been certified by the U.S. Commodities and Futures Trading Commission and their derivatives have been traded on compliant exchanges for several years. The SEC’s lawsuit mentioned several altcoins, driving their prices lower. Bitcoin and Ether have seen narrow price ranges since Monday, and when liquidity leaves alternative cryptocurrencies, it goes back into BTC, ETH and stablecoins.