At the moment, even the decision of the ETF is not able to significantly affect the price of Bitcoin.
Of course, if ETF accepts Bitcoin, then this will improve people's attitude towards it, but in the near future, in my opinion, it will not be able to significantly raise the price of Bitcoin. I think that the interest of large investors is involved here and they are interested in buying Bitcoin at low prices.
If the ETF Bitcoin is not accepted, then it will reduce the price for it but still the price will not fall below a certain limit (I assume that this is an area of ​​2900$).
That is, in general, I agree with your opinion and after some time the situation in the market will change for the better anyway.

And in the light of recent events with the US government, there is a high probability that all decisions on ETF Bitcoin, as well as the launch of Bakkt, will not be made soon.