I don't think that's true, you could argue that if there wasn't a pending etf the price would already be 100k so in that regard, etf and shit don't make bitcoin valuable.

But this pump is clearly fueled by news. People suppress the price, people pump the price.

At the end of the day, just like running your own node means you know what's real and what's not, being your own self means you know what your bitcoin is worth.