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Other factors that can influence the volatility of BTC includes the arrival time of the ETF right before BTC halving event , when the supply is cut short, then the demand for it becomes more acceptable, the upcoming event especially the USA election might prove a major factor in getting another ATH in the price of BTC after the halving,
It seems the ETF approval time was just a coincidence, no one expected it would get accepted before this upcoming Bitcoin block halving.
But if you notice, we already created new all-time high before the Bitcoin block halving, that is the same experience we had in previous Bitcoin block halvings even no such ETF approval news or events.
After the halving, we should be expecting Bitcoin price to get well above the current ATH to get to about $120k before November.
While the ETF approval may have done little to pump the price of BTC, the main reason for the pump is still due to the halving event of which every investor who has experienced the former halving or is wanting to get ready with their coins after this expected halving is getting set to take advantage of the bull run that follows.
Some would just continue to HoDL, but what would affect the price is mostly the demand at the time.