I'd also say no. Approvals are usually bullish for price until product launch date, while the launches themselves have always been bearish.

Look at the recent Futures/ETF based launches in Bitcoin's history:

December 2017 CME/CBOE Futures: -83%
September 2019 Bakkt Futures: -60%
October 2021: ProShares ETF -75%
November 2021: VanEck ETF -75%

Sure these ETF applications are different, as it's based on spot ETFs, but I'm not convinced that "this time will be different". At best we only see a 50% correction when price is around $50K-$60K compared to -60% to -80%, as an approval could push prices much higher in the meantime. Remember the CME/CBOE approvals in August 2017 around $5K? Price went up 4x from there until launch date.

It's just another buy the rumour sell the news event imo, not much else in the immediate term. Ofc long-term, sure, it's bullish. No arguments there.