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 ?
I think without ETF it will be very difficult to start the bull market because many institutional players and big investors are waiting for this decision. Without that BTC will cost 6500-700 as now.