Yes, the regularity of the cycles does not have to be repeated forever but what is happening now falls within the normality that has been seen in previous cycles.
Frankly, I feel that the shock comes from the fact that everyone was expecting the price to rise after the news of the ETF getting approval, or that the price would collapse if that approval was not obtained, but what happened is that the approval was obtained, and yet the price did not rise. The shock is more psychological than an analysis of the price.
Exactly. I think most of us expected that with the approval, or not, of spot ETFs in the US things would have gone differently, but looking at things a posteriori this has been a clear case of "buy on the rumor and sell on the news" in which a few big whales have taken advantage to fleece a lot of small fish (retail investors).