It can tell you that, "if this line is reached, and it was called from this path (with evidence on how this could happen), it will dereference a null." It is not saying that "running this program will guarantee give you a null dereference."
The halting problem is more in line with "this program will terminate on any possible inputs", which is more expansive. It is trivial to say that you can prove some programs won't terminate on a particular input. Question is if you can do it for all inputs, no?