It sounds like the potential ETF is making the price jump up. If the ETF isn't approved, the price will almost definitely have a significant drop. No one knows what will happen so just keep an eye on it.
I think people are buying in hopes of bitcoin skyrocketing if the ETF is approved. If it doesn't get approved, most likely those people will sell while the price is still high.
But even if it does drop by then, I don't think it'll be that big. Most likely we'll see $800 or $900 as the floor and get stable again after the ETF drop, if it does drop.
I could see the price drop to $900 or even lower if the ETF is not approved. That is still a high price compared to this time last year.
If the ETF does get approved, then I agree that the price would stay high and could even go higher.