I agree with you on the possible scenario for Bitcoin in the near term, as the next target is expected to be at 38K$ and due to the potential earnings momentum, we may see it rebound to the support levels of 33K$ and below.

But I disagree with your point that the reason for this bullish momentum is “increased optimism surrounding the potential approval of the Bitcoin Spot ETF by the SEC.” We have already noted in previous posts that the impact of the approval has diminished very much and is unlikely to be the reason of Bitcoin's current rise.