I agree, and didn't we already go through this about a year and a half ago with the CBOE?  My memory might be a little faulty about the details, but I definitely recall an ETF discussion not that long ago and I seem to recall some price movement then as well.

It does seem like the price action is because of this news, but I don't think it can be said with certainty that this is the case.  If it IS true, I'm wondering why there was such a dramatic drop--bitcoin is $6328 as I write this, and that's over $2000 less than what it achieved during the last little price recovery we had.  That's a pretty damn steep dip, and from what I read about the ETF thing, it's only a postponement of a decision, not a flat-out rejection. 

I'm wondering if some big buyers bought bitcoin outright in anticipation of an approval and then lost faith (or got some inside information).