For me yes, especially in this first quarter of 2024, the sign is when Bitcoin broke $47,000 a few days ago.
That is the sign for me, so even ETF will approve or not, I believe it will not affect really the price of Bitcoin, people already immuned about this ETF, they don't give a shit anymore to this.
Bitcoin has its halving and its bull runs are strongly correlated with its halving. Bitcoin Spot ETFs are not big contributors for Bitcoin bull run or bear run, halving is more decisive.
Bitcoin Halving cycleCycle repeatThey are two big things I look at in 2024 and I don't have plan to sell my bitcoins before the end of 2024. Along the way of Bitcoin bull run this year, there will be many news and fud but I believe demand on Bitcoin in 2024 will increase. As principle of supply and demand, its price will increase.
I believe bitcoin's recent rise to $47k was more related to ETF-related news than the halving event. In these days I don't see anyone talking about halving, everything that is spreading on the internet is ETFs, etfs. You're right, ETFs aren't the only factor driving bitcoin prices up, but it's clear that recent bitcoin volatility is related to etfs.
I believe that if the ETF is not approved, it will also have negative implications for the development of bitcoin and may cause the bull season to come later than we expected. Although the SEC's rejection of ETFs has been going on for many years, the heat on ETFs this time is completely different than many years ago, so the final result will also have a greater impact.