Am expecting it to breach the $30K sometime next month and head towards the $33K price range.
Grayscale won their lawsuit against SEC for their ETF approval. Their ETF is now should be considered again by SEC as directed by the judge who rule on the lawsuit. The news was released when the price of Bitcoin is on 26K and rose quickly when the news was released.
The price is already correcting since this kind of pump doesn’t last longer since the news is just about being considered for approval but not totally approved.
You can read the news here: https://nypost.com/2023/08/29/grayscale-wins-lawsuit-against-sec-as-court-paves-way-for-bitcoin-etf/
This is short time hype so most provably you are right with your conclusions there and I might not buy the hype created by that news since we don't know if the demand could sustain until we see some good price action due to this update happen. But maybe we should see what will be the future development of this case since maybe this could affect the price of bitcoin and can be an indicator for others to know on what possible price bitcoin could possibly reached.