From my understanding,  he is suggesting that there will be more dips before the halving as Grayscale continues to sell their Bitcoin. I understand his points because if they continue to sell, it's possible they may trigger some form of panic across board and weak hands will start dumping massively.

I'm suspecting that this may be classical market manipulation that is being done now to collect Bitcoin from the hands of weak hands and ordinary people to the institutions. For the ETF not to cause a new ATH, it is looking like the big players are out to control the price to align with what they want.

Whatever be the case, I'm not bordered because lower prices favour me more because I'm still at the accumulation stage in my Bitcoin journey. So it will enable me to collect more Bitcoin even at lower prices.