so yeah we need to move to the next prediction of halving from BAKKT launch since it was failed until now.Everyone guess that the real bull market will start after the few months of halving so I too agree that until every investors have chance to buy bitcoins.
Bakkt was always overhyped. And who knows, sometimes the market behaves differently from what the majority thinks. I still hope we see $100k for one bitcoin, though.
I believe whales did the thing after BAKKT launch because everyone expecting price bloom so they acted in right time and grabbed some money now they will be waiting for the perfect time to buy back and real investors will lose again if they don;t have confidence in long term goal of bitcoin.