The Bakkt futures was supposed to push up the price, because it is the first time that institutional capital entered the market. Yes, it is still early days for Bakkt, but it is a bit of a disappointment that it caused a drop in the price. I think a lot of people bought bitcoins in anticipation for a blowout event, where the Bitcoin price would have skyrocketed after the launch of Bakkt and then the opposite happened.
So the speculators might have started to dump some coins due to this disappointment or because they over extended with loans to buy these coins on credit and they are selling now to pay back the money, before the re-payments starts.
Most institutions know that it's a dump sign a few days before the Bakkt. They knew.