It seems that Bakkt was the cause of big pump from April this year, when price is jump from $4000 to $14000 in a relatively short time. They allegedly bought 100 000 BTC during that period, and as you say they are ready to play now.
I don't think that was only because of Bakkt since there were multiple factors involved among which the Facebook crypto(Libra) was the primary motivator. Not many are interested in when Bakkt will actually launch anymore due to the delays.
I actually feel like this is a court case being postponed like all other cases. Everyone are hyped for the 2020 halving event which will probably push the BTC value through the roof. It will be worth the wait in my opinion.