Few day's ago was a rumor about ETF approval will middle of August. Today
Cointelegraph publish a news that ETF proposal postponed to end of September. After this ETF news Bitcoin start downtrend again. After ETF proposal bitcoin was bullish. But recently due to postponed ETF btc run on bearish again . If ETF result become positive market will be bump instantly. Hope SEC will consider for approve of ETF application.
I think an ETF won't be approved until a more conventional proposal that protects the investor is made. A proposal that will offer a plan for a system that prevents major price manipulation of the market. It is risky, though it could be quite lucrative if successful. I'm sure the SEC is looking after the investors best interests, so a small postponement seems necessary.
In the meantime, the market will most likely continue to fluctuate.