But the big question is how will the market react at the Aug 10 date? Its really a critical day for the crypto world because it will decide if this bull run will continue or another reversal is in the horizon.
Tbh, i think the whole ETF thing is quite overhyped.
I don't think an approval would trigger another 'bull run'. Those would be good news, yes. But not worth another crazy bull run like last year.
I can very well imagine that this hype will be contra productive when either (1) the ETF will not get approved or (2) people realize there won't be a big pump after the approval.
In both of these scenarios a sharp decline of the price is very well imaginable.
IMO it takes a lot more to trigger a real 'bull run' than a simple approvement for an ETF. The most promising event which would trigger a lot of FOMO will probably be the final release of the LN after all of the testing stages and all of the improvements.
Because THIS would really make a huge difference regading technology/usage/scalability/fees. This would heavily increase the value of BTC, which should lead to a sharp increase of the price too.