I believe ETFs will reduce volatility in the Bitcoin price.

Large portfolio managers will decide what percentage they want to allocate to the ETFs and as the price goes up and down they will adjust their holdings.

While these capital inflows will without a doubt drive the price up, some funds will choose to sell portions of their holdings to maintain a percentage of their portfolio.

If a hedge fund wants a 2% allocation to IBIT and it trades down they will be buying the dip and if it goes up they will sell.

Large players buying every dip along with Hodlers accumulating = NGU