We all read about these millions and billions gazillions purchases of BTC ETF but when is the actual BTC price going to reflect this and be forced to skyrockey?

Is the price formed 99% from all exchanges? The BTC must be nearly depleted on exchanges and only then will the price go crazy? It's just so weird to read everyday for who bought btc etf and btc OTC (off the counter) and it doesn't seem the reflect the actual price at all...