Rejection from 38-39k will likely take us to 31-32k but it will take some time, likely in December first or second week.
Market will need some bad news or FUDs to have catastrophic effect.
34-35k ✅ > 38k> 31-32k > 42-46k 👀.
It's important to note ETF window closes on 17th November.
Probability of 1 ETF approval is at 50% as per major agencies.