I think the impact is already telling on the market, price has dropped by more than 4% in the last 24hrs, the impact is not actually expected to be the same as years back when Bitcoin was still growing but still, the crash will be felt, Bitcoin was just recovering to $82k this week but crashed to $76k today, if not that this hack happened, it probably would have continue going up. There is still panic selling, even though it has not dropped to -10%, don't think it might not happen.
This impact is below what people actually expect in the market. They are referencing the FTX collapse with the Binance hack, forgetting the fact that the collapse and this hack are not the same thing. If Binance was not capable enough to recover the money, that’s when it could have been bad. The FUDZ did not cause much panic in the market.
You are right, had the binance exchange collapsed because of this hack, the market would have been more messy than now, the case of FTX was not even related to hack but rather misuse of customer funds and high financial risk by the company, so I don't really see any need to compare it to this case, maybe we could look at how price reacted in cases that was specifically related to hack. Example is the Coldcard attack, that was also a big shot for scammers this year and the stolen funds was big but it didn't show a big effect on market.
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