The market always calculates the news within a week or two of its occurrence, and since the date of making the ETF decision is on January 10, I expect a decline in the price of Bitcoin at the end of the Christmas holidays. The more accurate question is: where will the price fall? Will we see a temporary correction to $38,000 or $32,000 or $28,000 all options are available.
I don't expect any ETF approval in January so I'm betting that by the end of the year we will be at $32k.
Why so bearish at the end of December though? the market is very bullish as this stage and I don't see the price crashing from $43,000 to $32,000 unless there is a big news that can impact that kind of price movement, like a black swan even or something similar to FTX collapse, but there's none.
We might not have a Bitcoin spot ETF approval next month or even this year, but you have to think that around April we have the block halving and that alone as we have seen in the past is the trigger for a bull run. So we will have to wait what 2024 offers, but for sure majority could be leaning or a bull run. Maybe can see the price going about $69,000 or the current all time high, but it might continue to grow and that magic number of 6 digits.