Whoever wins the case, it does not really matter much to Bitcoin and other crypto. I'm general BNB, and any coin associated with Binance might be affected... But bitcoin transactions will still continue.
I quite agree with you, tho bitcoin has already lives for a decade now but if the SEC win you are gonna see price bleeding for maybe like a couple of weeks because US investor cant do what they want to do, at least they do legally.
Crypto basically bypass things like this but the government has full control to regulate, meanwhile, just look up the news and now is more than 20 crypto that are considered as securities
https://beincrypto.com/full-list-cryptos-securities-sec-lawsuit-binance-coinbase/ it could be more
Im not trying to defend Centralized Exchange but they should win the case for the crypto because centralized exchange too we can see the mass of crypto adoption.
if they won the case you can see more adoption to crypto right