Re: Bakkt physically-settled bitcoin futures a dead born baby?
[...] the response to this announcement were anticipated and priced into the market. 
[...]
[...]The bear market reversal pretty much coincided with the Bakkt announcement for the July test phase, so I think that's the answer right there. "Buy on the rumor, sell on the news" and all that.
I think it's way too early to assess whether Bakkt is dead on arrival and whether it's going to have any meaningful impact besides marketing hype.
I like the "Buy on the rumor, sell on the news" part of your post, because I have noticed this a lot of time in the past. The latest "India is banning Bitcoin" is a perfect example of that. The rumors were doing the rounds and everyone started to panic and the price started to drop, but it took only a few days for their government to react and to tell people that it was not going to ban Crypto currencies.
So, when the rumor hit the streets, you cash in on the price drop and then sell for profit, when the factual news hits the market and the price recovery takes place.
Bakkt is also going to follow the same pattern, so I am buying cheaper coins now.