The price will definitely increase if SEC approves the ETF because new money will flow into the market and that will cause a significant boost in BTC price.
I also think a hypothetical approval of ETF by SEC would impact Bitcoin price positively on short term, although the recent news today bring very negative omens about the approval. They say it's not going to happen and that SEC is going to reject every submissions, because the industry still lack guarantees to investors, besides the number of scammers and bad actos being too high in crypto market recently. Could these so called analysts be bluffing? I think so, but their arguments make sense if we put ourselves on the regulators' shoes.
If ETFs proposals are rejected, they believe prices can drop to 36,000$-38,000$ once again... That is not too bad for the short run, and the scenario must be reverted anyway once it's halving time.
SEC will reject all bitcoin spot ETFs in January, says Matrixport analyst