That's a spot on assessment as far as I'm concerned and I think there will be a large dump that the hacker can use to re-enter a large position and then unload again slower thereby doubling or nearly doubling his take. In fact, I think the cycle could persist which is good for traders, but terrible for those imagining a stable/ever rising BTC valuation.
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You may well be right. Thing is everybody was expecting plain sailing after the halving. Seems it never really happens in crypto.