The SEC lawsuit against Binance has caused a major market crash, especially hitting BNB hard. It's worrying, and the future of BNB looks uncertain unless a solution is found. It remains to be seen if governments will have the upper hand in the crypto world.
The lawsuit definitely showed its effect on the market since Bitcoin and every cryptocurrency started dropping right after the news started spreading across different social media platforms and online news portals. As you mentioned some tokens are affected more than others including BNB which has faced significant drops since SEC has announced that they will take Binance to court.
There are also some other bad news circulating in the industry which are causing the market to crash as well but because they are not as big as Binance and Coinbase being sued for some of their services. However, we will soon recover from that too.
People see it as a bad sign about a huge market crash and some are selling off their coins in order to anticipate such a crash. Of course, I may not say it was a bad decision but as we can see, the market isn't in worse condition so I think we don't have to worry too much as we know that FUDs cause declines but after this, it rise again. Nevertheless, might the price of Bitcoin will crash but I don't think it drops below $25k and it that will sustain, it means that many people still have the guts to hold than the number of investors who are weak.
well that seemed to be true, there are many strong holders resisting against the dumpings.
right now the price looks quite good enough after the supposed to be fud has been released on every media and news outlet, though we don't know what gonna happen in the future, always be prepared I guess, after all such decrease in value usually happen in a blink of an eye.