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.
You are actually correct. The scenerio is just like "what I ordered vs what I get in return" people never expect the price of Bitcoin to dip This low after ETF approval. I am also overwhelmed and astonished because I felt after the approval that Bitcoin price will skyrocket. But seeing the price dip makes me think that Bitcoin journey is unpredictable and mysterious. Not what people feels or prdict that always give them %100 accuracy but give rise to at least %50 in absumbtion. But anyways the dip gives an opportunity for people to buy and accumulate more. People who feel that Bitcoin price was becoming too expensive could buy now because after now I think the price will move drastically uptrend. someone who can be able to afford 3 or 4btc and above, now that it's deep could make a profit of about $24k when the price will increase to $45k. For example you baugh like 4btc at the rate of $39k each that is $39k * 4=$156k. When the price goes up to $45k each it will be $45k*4=$180k. If you subtract $180k-$156k=$24k. So it's another opportunity for the whales to make more profit.