I think the market will take the time up to 3 months more to recover the market cap. We know SEC postpones two months to take their decision. So the market will follow this time (only my opinion). I hope after that market will go to the owner's way whatever comes to the decision from SEC.
I don't see a reason why we should be waiting for SEC to do anything. It's not even about the regulating crypto, it's about the ETF. Just ridicuoous to see decentralized economy relying on sec...