Markets mature, Bitcoin resists against SECs recent rejection

Is the price of Bitcoin really rising and falling because of the SECs decision to reject several ETF proposals? Or were the markets following their own flow all along? We saw two rejection cycles in August, but the outcome for the price of Bitcoin was different in each case. I am more than happy about this, because there is only one outside pressure, which should be the only reason for having an impact on its price: new successful steps on its way to mass adoption. Everything else is simply dust.