The price of bitcoin has been falling since late June and on Monday investors were disappointed by a lackluster reaction to the launch of Bakkt Bitcoin Futures. Meanwhile, bitcoin’s volatility has also been falling, while altcoins have seen a relative rise in volatility. Intercontinental Exchange (ICE) launched its bitcoin futures contracts late on Sunday. Commodities giant ICE operates multiple regulated exchanges including US ICE futures exchanges, the New York Stock Exchange and the Liffe futures exchanges in Europe. Bakkt, the Atlanta based firm behind the ICE bitcoin futures contract, aims to provide institutional and retail investors a secure, federally regulated place to trade the world's leading cryptocurrency. ICE bitcoin futures pay in bitcoin upon settlement, contrasting to CME Group bitcoin futures which pay out in cash. Bitcoin bulls, hoping that the launch would add further legitimacy the digital asset, were disappointed by relatively low trading volumes. On Monday bitcoin fell below the key psychological level of $10,000. Adding to the bearish scenario, Coin.dance data showed that bitcoin hash rates by network rate fell sharply on Monday. The hash rate of cryptocurrency measures of the number of calculations that a network can perform each second. A higher hash rate reflects miners piling in to validate new blocks and has been viewed as a bullish indicator, while conversely a lower hash rate could be seen as a bearish signal. The next bitcoin ‘halving’ is expected to take place in May of 2020. The halving describes a decrease in the number of new bitcoins awarded to miners for adding blocks to the blockchain. The supply of bitcoin is limited to 21 million. Bitcoin bulls look to the event with anticipation since previous halvings boosted the price of bitcoin substantially in the months that followed. Looking at the daily chart, we can see that a symmetrical triangle pattern has formed and price is near the support of the lower trendline. A break below the trendline will bring the prior low of $9,013 from July 17th into view as a potential target for the bears.