The impact of the bitcoin ETF approval on the market was short-lived and as usual it was just FOMO being exploited. Basically, the positive impact of ETF on the market is expected to occur in the long term because after all investors need to see how the market works after the ETF is approved so as not to experience large losses.
Even though ETF and several other reasons can influence the price of bitcoin, large amounts of conversion of bitcoin to fiat can also cause the price to be corrected. The price of bitcoin is currently tend close to the $40k support level and it is not resistance, but the resistance that will likely be tested during the remainder of January is at $43k to $44k.
I think it was only temporary and the FoMo caused by the ETF again showed a weak resistance point at the high price increase of the previous week. If this impact can occur in the long term then the uniqueness of Bitcoin will no longer be the same and I think it will never happen at any time. This only applies to the short term and we have also seen several events in the market process, both for increases and decreases in prices every time there is an event that influences it.
Currently the price tends to move in the highest range of $43k to $47k and corrects again at $41k to stay for a while. I see that in February or March there will be a positive movement even though there is a correction as usual and hopefully it can last for a slightly longer period of time before heading to ATH. Moments like this will usually make the price last a little longer below its support.