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Investors appear to be converting tokens proposed as securities by the SEC into less disputable assets such as Bitcoin. Since the lawsuits were filed on June 6, the total market cap of the crypto industry has fallen 6.4% to $1.04 trillion from $1.12 trillion. Meanwhile, Bitcoin’s dominance rose 1.92% to 47.74% from 45.82%, Ethereum dominance rose 0.27% to 20.08% from 19.83%, and Tether’s dominance grew 0.33% to 8.00% from 7.63%. Over the past 24 hours, the total crypto market cap, excluding Bitcoin, fell 7.7% to $546 million from $592 million, while Bitcoin’s market cap fell just 2.92% to $498 million from $513 million. The moves support the thesis that crypto investors are moving capital into assets outside the SEC’s direct line of fire, at least for now. Amid reports of major institutional players moving capital around the market and U.S. platforms closing some crypto services, the fear and greed index still reports a ‘neutral’ position in the market. …