We had a nice little drop once those Bitcoin ETFs were approved in the US.
Most forget that.
We dropped for roughly a week before surging.
We could be seeing the same with the Hong Kong bitcoin ETFs:
(Source: https://twitter.com/QuintenFrancois/status/1785708404977115355/photo/1)
The situation and timing were completely different, but you get the idea.
I am not expecting a similar reaction, but the potential is there.
I think once stocks start going up again, bitcoin will as well.