WTF? So this drop isn't exactly what I expected, could it be BAKKT was overly hyped for so long that nobody cares anymore?
that's often the nature of events like this. the market hypes the news rather than the event itself. as a matter of fact, we got a really nice pump last month when bakkt announced the launch date.
i probably should have seen this coming.
If I can continue speculating: I wouldn't be surprised institutional investors are going to cause a price increase once Bitcoin is low enough.
"once Bitcoin is low enough"
that's probably the key. wall street likes to quietly accumulate until supply is gone, then mark up the price.