it's always adorable when people try to explain price moves with news. the "lightning network hack" (if you could call it that) happened a month ago and the google news came out 3 days before the crash. obviously no one cared about either story.

you really think the market crashed because bakkt didn't have high enough volume?

you realize that rallies and crashes occur with or without news stories, right? the most important factors are price and commitment of traders. traders were heavily long heading into the dump. so when price dropped a little bit, it triggered stops, causing new lows and triggering more stops and margin liquidations, inducing panic selling as price quickly dropped 15% in a matter of minutes. that's what price does---it creates feedback loops. lower prices beget lower prices as traders and investors are squeezed into cutting their losses. news pales in comparison to these market pressures.