May be the bull is taking rest because all the events are not relevant  . Have you got any idea about the volume in Bakkt and if you are watching the market when Bakkt was launched the market started to fall, what do you understand with that situation, the market was holding together because of the hype it created and after the launch the investors were not impressed and started selling off. Who knows the volumes in those exchanges are real as these exchanges are known to provide fake volumes too. Have some patience we will have the rally in a couple of years time hopefully.