Quick overview

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The crypto market remains focused on potential developments surrounding U.S. and Israeli actions against Iran, as well as upcoming statements from Donald Trump regarding a possible de-escalation in the Middle East.

Against this backdrop, Bitcoin has fallen below the $70,000 threshold, reflecting ongoing market uncertainty.

The leading cryptocurrency is down 0.8% to $69,825.67, while altcoins are posting broader losses of up to 2.3%, led by XRP, which trades at $1.40. Meanwhile, Ethereum is down 0.1%, holding at $2,134.47.

Among other major tokens, BNB, the fourth-largest by market capitalization, declines 1.2% to $630.47. Solana slips 0.4% to $89.67, while memecoin Dogecoin falls 0.7% to $0.09338.

Elsewhere, Cardano drops 0.3% to $0.2607, extending its weekly loss to 9.1%. In contrast, Tron rises 1.4% to $0.3102 after announcing an expansion of its artificial intelligence fund from $100 million to $1 billion.

SEC and CFTC classify crypto as “digital commodities”

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission recently classified Bitcoin and 15 other cryptocurrencies as “digital commodities,” bringing an end to years of legal ambiguity and jurisdictional disputes in the United States.

Under this classification, these assets fall primarily under the oversight of the CFTC rather than the SEC, exempting them from the stricter registration requirements typically applied to securities such as stocks and bonds.

According to the document, cryptocurrencies will be considered “digital commodities” when their value derives from the programmed operation of a functional system, as well as from supply and demand dynamics.