And many analysts are against Matrixport's report because it is unlikely that the SEC will approve the bitcoin spot ETF because the SEC will be sued if they reject it.
Let's go for the worst case scenario and in that, the EFT is rejected or delayed. Then what will happen?
For the time being the bitcoin will dump but it won't be the end of bitcoin. We will still have halving, and we will still see the Bitcoin all time high and the bull run. Previously bitcoin was performing well with ETF and it will continue doing so. So for the Bitcoin community, denying ETF does affect much.
Nothing will happen. There will be some panic sells, as usual, that's it.
Bitcoin never depended on this ETF stuff, and it never will be. Sure it's a setback but that's it. We have seen so many setbacks and btc always recovered, that's the way this business works.
I don't see why the halving is a thing to look forward to, it's not gonna be the saviour if ETF fails.
Bitcoin is here to stay, ETF or not.