I don't think it takes much of a dip to scare off the speculating short term fiat minds. Probably doesn't need to be as deep as the last one. Also I hope these ETF's go bust sooner rather than latter. Maybe they will double down on there own book in this coming cycle, ie leverage long degen style. Then is a game of chicken till someone starts naked short selling, Ie issuing fake btc. They will probably switch strategies when they see real bitcoiners getting in their way.