The thing is that we're lacking the trigger that can start the bull run. Last year it was hype, dumb money kept pumping the market because the general public discoverd something that could potentially earn you profits. As of now, we don't have that, and we probabably won't see it again, people already have an idea of what to expect from this market (volatility, fluctuation, a massive crash, etc) once they invest in a certain coin.

Certainly, we don't need the ETF, we've been doing fine without an ETF for years, in fact, if the SEC rejects or delays the next etf, we could actually see a rebound in the prices as the market doesn't care about such things (as seen a few weeks ago when some etf where rejected and price shoot up).

We could still see some upward movements towards the end of the year if the bulls trigger a big increase in the price out of nowhere, but it won't be as massive as the last one, thus it would be difficult to call it a bull run. We might see one of those in a few years, and I believe the trigger will be adoption, once adoptions goes full mainstream, we could actually see another bull run as people will be crazy to jump into the crypto bandwagon again.