We never know until things already happened, but in terms of price surely it will spike up after the approval, most expectators will begin to buy in when things shown positive, effects as investors will be more widely even new big whales will start playing buy and hold, those people who will accumulate and allow the price to pumped up are just waiting for the right timing after this decision.
Since there are many ETF's coming and another coming rejection the price will pump and dump and this crisis will not be going to stop until the ETF approves it. According to the SEC they need further improvements before SEC approves it. So, there's a chance for ETF to be approved in the future.
That is why there are big investors playing the market and keep investing every time the price drop and they don't let the price drop below $6k there is a strong support at $6k so, ETF will be approved, but we don't know when, if it happens I'm sure the price of bitcoin will burst increase and maybe the price will touch again back to $10k that is why many big investors keep buying before the SEC making decision.