Sooner or later Btc ETF will be approved as big institutional investors are willing to join the boat. The just want to buy a lot of btc before as cheap as possible. Until they did not filled their pockets price will continue to be manipulated.
However, don't forget that price reached 20k without any ETF approved.
Even without ETF it can reach more heights,ETF is just a tool for speculation now but we really don't need it to use it in the regular basis.Institutiona investors will make the cryotos too expensive which will become like an asset if they were here.So decentralized economy will become a dream though.