Previous year also we faced a good bull run with out ETF. ETF not related to bull run. but panic people there so if ETF rejects by the sec or postponed they sell their portfolio for even loss.
So i believe normal market circle and bull run can be expected in next months.
what about your opinions ?
What's the normal market cycle? I wouldn't say last year bullrun is a "normal market cycle". For such a huge bull run, there must be a huge fundamental force behind it, not just some random market cycle. You may be forget that Bitcoin had it first futures listed in conventional exchange by the end of last year. That was what driving the price to $20,000.
So no, there won't be another bull run without any major things happened. If Bitcoin ETF is not approved, there will be another months long bear market this year.