I must respectfully disagree with your main presumption here. Kraken's refusal to comply with the New York Attorney General's request for information by no means stands out as a bearish signal. I would actually question the existing correlation between these two events without further explanation.

First of all, Kraken is not directly subject to the New York rules as it is incorporated in San-Francisco. Furthermore, the presumption could be viewed as being equally unqualified, if the scenario was the opposite. An example being: because Coinbase and the Winklevoss twins' Gemini Trust complied with the request and co-operated with the AG's office, that is a bullish signal that the markets will rise and the markets will see continual strong performances.

Please refer to this Cnbc article for more details on the points I made in passing.
https://www.cnbc.com/2018/04/19/kraken-cryptocurrency-exchange-says-it-will-not-comply-with-new-york-inquiry.html

I welcome any further comments, opinions, or disagreements, and will try to respond to any replies when I can.