I really believe we won't see a drastic bull run until the etf is approved. It's going to keep going down until then. There will be another time when it starts and uptrend, but everyone is waiting for the news on the etf. It's a big development for Bitcoin, there's no doubting that. If it fails, we're in for a rough road.
This seems too simplistic to assert that "everything is waiting for the news on the ETF" There is more to bitcoin rather than whether an ETF is approved or NOT.