Why many people expect Bitcoin price to dump?

[greysonz]

We know of the hack and seriously, it's only exchange that was hacked, I wonder why many people were expecting the price of Bitcoin to dump to around 10-20 percent because of the incident of Binance hack. If you may understand correctly, Bitcoin wasn't hacked, it's only exchange that was hacked and among that around $3b was freezed and only $3 that was lost.
If you may understand correctly, Binance has also promised their users (affected victims) to buy back their assets that was stolen from their exchange irrespective of any asset that they are holding. They have also took a Snapchat for the affected victims which they promised to drop back every single token or asset that was stolen from their users, and what you should know is that Binance is also bigger than $6b dollars and they would buy back every single asset that was stolen from their users and that is also positive movement to the market which would also hold the market stronger not to dump as people were expected.
2 to 5 dump is nothing on the market and there is a better chance for the market to boost anytime soon when Binance began their buy back it would bounce back quickly .

Usually, if a large number of people are expecting something, it means the market will react with a price move in the opposite direction. We all anticipated October, and there were plenty of signs telling us it would truly be a month of growth. We all saw charts with cycles and green upward arrows. But October failed, punishing the majority. That's why sometimes I think the best indicator for conveniently buying Bitcoin is crowd sentiment. Analysts have long noticed this, studying the frequency of "pump or dump" expressions and providing signals and statistics on this.

[nara1892]

It’s understandable that many people think Bitcoin’s price will plummet following this incident, even though a hack on an exchange doesn’t automatically mean Bitcoin has lost its security or fundamentals but not everyone can see it that way. Their thinking is simple if they don’t sell right away, they’ll lose money, and this is what’s driving the market down.

Binance has announced that it will take full responsibility for these events, but this still hasn’t fully restored investor confidence (especially among retail investors).
The news below shows that the market remains under control and has even risen by about 3.5% following this hacking incident.

Source: https://www.theblock.co/news/markets/2026-11-04-bitcoin-price-midterm-elections-binance-hack-recovery-433030?

[Bluedrem]

Perhaps the hacking incident is not the main reason for the price drop. The main reason for the price drop is the global situation. Look at the situation prevailing all over the world. Most countries in the world are already involved in war. Especially since the news of the American nuclear attack on Iran has terrified every country in the world. Many fear that World War III is ahead. And in this situation, in the past, Bitcoin would have fallen even more, but in the present time, when people's confidence in Bitcoin has increased, even if it has affected the price, it has not had a major impact yet. We saw the price of Bitcoin remain below $70,000 in August and September, but the sudden price increase at the end of October made investors think, but if the Iran-America peace deal collapses, the price will fall again. Anyway, we hope that peace will return to the world and every soul will get a chance to breathe properly, and potential assets like Bitcoin will also show their own strength.

[Humblevirus]

We know of the hack and seriously, it's only exchange that was hacked, I wonder why many people were expecting the price of Bitcoin to dump to around 10-20 percent because of the incident of Binance hack. If you may understand correctly, Bitcoin wasn't hacked, it's only exchange that was hacked and among that around $3b was freezed and only $3 that was lost.
If you may understand correctly, Binance has also promised their users (affected victims) to buy back their assets that was stolen from their exchange irrespective of any asset that they are holding. They have also took a Snapchat for the affected victims which they promised to drop back every single token or asset that was stolen from their users, and what you should know is that Binance is also bigger than $6b dollars and they would buy back every single asset that was stolen from their users and that is also positive movement to the market which would also hold the market stronger not to dump as people were expected.
2 to 5 dump is nothing on the market and there is a better chance for the market to boost anytime soon when Binance began their buy back it would bounce back quickly .

The point is that we understand crypto market more than each other and it will not be the i will view the market toward any news that may have influence on the crypto someone else may do, and when this kind of news happens, it is almost impossible for it not to cause serious panic in the crypto industry. When there is serious panic in the crypto industry, what we should expect is that the price of Bitcoin will start dropping, and the same applies to all other altcoins.If there is no positive news about it again, the level of panic among investors will increase, and from there, the price will likely continue dropping. The reason why most people think the price of Bitcoin could drop significantly, perhaps by 10% to 20%, is that they believe many people will start selling. And there is no way that a large number of people selling their Bitcoin will not cause the price to drop by at least 10%.What really stopped many people from panicking was the positive news that came from Binance.

[HustleZ]

Perhaps the hacking incident is not the main reason for the price drop. The main reason for the price drop is the global situation. Look at the situation prevailing all over the world. Most countries in the world are already involved in war. Especially since the news of the American nuclear attack on Iran has terrified every country in the world. Many fear that World War III is ahead. And in this situation, in the past, Bitcoin would have fallen even more, but in the present time, when people's confidence in Bitcoin has increased, even if it has affected the price, it has not had a major impact yet. We saw the price of Bitcoin remain below $70,000 in August and September, but the sudden price increase at the end of October made investors think, but if the Iran-America peace deal collapses, the price will fall again. Anyway, we hope that peace will return to the world and every soul will get a chance to breathe properly, and potential assets like Bitcoin will also show their own strength.

Global factors are also likely to be the reason of the the dump towards lower $70k, but the main thing is the binance hack imo. Binance hack doesn’t directly affect bitcoin but it affects it indirectly by making the users fearful. The amount in bitcoin held by people would likely have been changed into USDT and sent to other exchanges or even converted to fiat, many other people would’ve sold just because they thought the price will decrease and these factors along with global political ones combined to do a chain of selling leading to the dump

[Fuso.hp]

I also don't understand how people actually connect the exchange hacking incident to the Bitcoin market. Exchange and Bitcoin have no real connection to each other, so why do people expect the price of Bitcoin to dump due to the exchange hacking incident, no matter what happens in the world, why do people expect the price of Bitcoin to dump.

Many have also speculated that the price of Bitcoin will dump due to the war between Iran and America, and again, the price of oil has increased, which is why they have said that the price of Bitcoin will dump. Again, many have speculated that the crypto-related decisions in a country will be opposite, so it will have a bad effect on the Bitcoin market. In other words, no matter what happens, why do people expect the price of Bitcoin to dump?

[MusaPk]

Global factors are also likely to be the reason of the the dump towards lower $70k, but the main thing is the binance hack imo. Binance hack doesn’t directly affect bitcoin but it affects it indirectly by making the users fearful. The amount in bitcoin held by people would likely have been changed into USDT and sent to other exchanges or even converted to fiat, many other people would’ve sold just because they thought the price will decrease and these factors along with global political ones combined to do a chain of selling leading to the dump

Binance is biggest crypto exchange and its hacking has shocked the whole world. Bitcoin tried to stay firm after Binance got hacked but now it looks like Bitcoin price is once again going below $70,000. There are users who are in fear due to current situation and there are also users who are taking advantage of current situation because they know that this is normal with Bitcoin. Whenever there is dump, bitcoin goes from weak hands to strong hands and these weak hands regret when Bitcoin recover its price.   

[B-BossMan]

Global factors are also likely to be the reason of the the dump towards lower $70k, but the main thing is the binance hack imo. Binance hack doesn’t directly affect bitcoin but it affects it indirectly by making the users fearful. The amount in bitcoin held by people would likely have been changed into USDT and sent to other exchanges or even converted to fiat, many other people would’ve sold just because they thought the price will decrease and these factors along with global political ones combined to do a chain of selling leading to the dump

Binance is biggest crypto exchange and its hacking has shocked the whole world. Bitcoin tried to stay firm after Binance got hacked but now it looks like Bitcoin price is once again going below $70,000. There are users who are in fear due to current situation and there are also users who are taking advantage of current situation because they know that this is normal with Bitcoin. Whenever there is dump, bitcoin goes from weak hands to strong hands and these weak hands regret when Bitcoin recover its price.   

The only thing I want some folks should understand is that, the bitcoin will never be in the same price range, so the price drops are normal things that many investors have been experiencing for a while time without numbers, it's never a surprise things to be panicking about, for those that understand what they are doing and knows how Bitcoin works

Although,for uncountable periods of terms now there would definitely be a period of unstable market or bitcoin price, some investors tends to sell thier coins while some decide to be holding for a while and even make use of the advantage to be buying more during the dips, it all matters on how one can controls himself whenever the market pressures comes, the long-term holders know how this periods used to be, as it requires patience and sticking to the initial plans, just to avoid the fears of making a wrong decision

[MisFoxie]

I also don't understand how people actually connect the exchange hacking incident to the Bitcoin market. Exchange and Bitcoin have no real connection to each other, so why do people expect the price of Bitcoin to dump due to the exchange hacking incident, no matter what happens in the world, why do people expect the price of Bitcoin to dump.

Many have also speculated that the price of Bitcoin will dump due to the war between Iran and America, and again, the price of oil has increased, which is why they have said that the price of Bitcoin will dump. Again, many have speculated that the crypto-related decisions in a country will be opposite, so it will have a bad effect on the Bitcoin market. In other words, no matter what happens, why do people expect the price of Bitcoin to dump?

I think since exchanges are related to cryptocurrency and Bitcoin is the father of cryptocurrency, many people assumes that it is connected to exchanges. Another possibility is that in the past, when major incidents happened, such as the Terra Luna crash or the FTX exchange hack, the market went into a bear market.

It may be because of these incidents people think tbis way that due to exchange hacks Bitcoin might go down and because of this possibility, even when there is no connection with Bitcoin, people sell Bitcoin out of fear which affects the price of Bitcoin in the market.

[MainIbem]

Some funds have been recovered. Tether and Circle also helped Binance by freezing the USDT and USDC that was stolen. Thus means that the hack wouldn't affect Binance much compared to when they didn't recover anything from the $6b that was stolen. However, Binance have opened withdrawals and anyone can withdraw their asset from Binance.

Gone are the days that an Exchange hack will make the naive start selling their coins at loss which will fall the price of bitcoin. I think, it was a similar time that FTX got hacked four years ago, which made bitcoin price dip to $16k+ but today bitcoin price only dipped to $77k from $80k. The more institutions a d companies are adopting bitcoin the stronger it becomes and cannot be affected that much by the hack of an exchange alone.

Recovered? No they were not recovered to Binance but frozen by other chains which makes it tough for the hackers to have access to it. The good thing is that customers funds wasn't affect and majority of them have been able to withdraw their money. Well more people are becoming knowledgeable about Bitcoin but doesn't mean some won't panic and sell at lose or move to other assets like Gold or Stocks. Well regardless of whether they sell it doesn't stop the progress of Bitcoin cause it has experienced similar situations in the past and still recovered later.

[GbitG]

It’s understandable that many people think Bitcoin’s price will plummet following this incident, even though a hack on an exchange doesn’t automatically mean Bitcoin has lost its security or fundamentals but not everyone can see it that way. Their thinking is simple if they don’t sell right away, they’ll lose money, and this is what’s driving the market down.

Binance has announced that it will take full responsibility for these events, but this still hasn’t fully restored investor confidence (especially among retail investors).
The news below shows that the market remains under control and has even risen by about 3.5% following this hacking incident.

Source: https://www.theblock.co/news/markets/2026-11-04-bitcoin-price-midterm-elections-binance-hack-recovery-433030?

We all knew that we retails just got too panic even in minor incident at market. Like recently Binance got heck then immediately many people got panic and due to fear they withdrawal their funds but on other hand we have operators and they have different mentality like when there was fear in market they simply they try to buy because they knew it people (retails) has narrow mind of emotions like they have weak emotions. Only minor incident is enough to distracte it......

So that's why we see some rise in market like immediately people dive for sell and as results selling order fill into buy which put pressure on price to rise.

[fredericktaylor]

Binance is biggest crypto exchange and its hacking has shocked the whole world. Bitcoin tried to stay firm after Binance got hacked but now it looks like Bitcoin price is once again going below $70,000. There are users who are in fear due to current situation and there are also users who are taking advantage of current situation because they know that this is normal with Bitcoin. Whenever there is dump, bitcoin goes from weak hands to strong hands and these weak hands regret when Bitcoin recover its price.   

Normally the Binance exchange hacking has shocked both small and big investors which has really increased the selling pressure on the market which has had some impact on the decline in the price of Bitcoin. That's right there are many investors who are using this opportunity properly they are buy Bitcoin and hold it for a long time because the situation will return to normal the price of Bitcoin will continue to increase which is absolutely normal for Bitcoin. Investor who invest in Bitcoin with a weak mindset and plan will give up Bitcoin today or tomorrow they cannot hold Bitcoin patiently for a long time their weak plan is responsible for which they have nothing to do but regret it at some point this is the real reality.

[danadc]

Binance is biggest crypto exchange and its hacking has shocked the whole world. Bitcoin tried to stay firm after Binance got hacked but now it looks like Bitcoin price is once again going below $70,000. There are users who are in fear due to current situation and there are also users who are taking advantage of current situation because they know that this is normal with Bitcoin. Whenever there is dump, bitcoin goes from weak hands to strong hands and these weak hands regret when Bitcoin recover its price.    

Binance is very important globally because they have high capital volumes, but I don't think it influences the price drop that much, only the USDT. The main reason I think it might have fallen is the global situation, with possible wars and the fact that ETFs aren't absorbing the drops with short positions.I would point out that there's a collective fear about what might happen in the world; we all fear for our futures, and this affects investments. We're driven by emotions, by seeking protection, by waiting for better conditions. I think that's the root of it all.

[Iranus]

Binance is very important globally because they have high capital volumes, but I don't think it influences the price drop that much, only the USDT. The main reason I think it might have fallen is the global situation, with possible wars and the fact that ETFs aren't absorbing the drops with short positions.I would point out that there's a collective fear about what might happen in the world; we all fear for our futures, and this affects investments. We're driven by emotions, by seeking protection, by waiting for better conditions. I think that's the root of it all.

Why would Binance incident only hit USDT and not Btc or the altcoins? I don't get that.

You said yourself they have got the biggest volume in the space. That volume is not just USDT pair, it covers BTC and altcoins pair too. So it could mess with liquidity, trading activity, investor sentiment across the whole crypto market.

That said, it does not make Binance main reason BTC dropped. But you can't rule out the impact on BTC either.

[Saltysugar99]

Global factors are also likely to be the reason of the the dump towards lower $70k, but the main thing is the binance hack imo. Binance hack doesn’t directly affect bitcoin but it affects it indirectly by making the users fearful. The amount in bitcoin held by people would likely have been changed into USDT and sent to other exchanges or even converted to fiat, many other people would’ve sold just because they thought the price will decrease and these factors along with global political ones combined to do a chain of selling leading to the dump

Binance is biggest crypto exchange and its hacking has shocked the whole world. Bitcoin tried to stay firm after Binance got hacked but now it looks like Bitcoin price is once again going below $70,000. There are users who are in fear due to current situation and there are also users who are taking advantage of current situation because they know that this is normal with Bitcoin. Whenever there is dump, bitcoin goes from weak hands to strong hands and these weak hands regret when Bitcoin recover its price.   

I don't think the Binance hack had a big impact on the price of bitcoin. After the hacking the price of bitcoin fell, when it was the main headline in the news around the world. But after that the price of bitcoin crossed $80k again. Now the price is slightly lower. In a bear market, the price of bitcoin can be seen to fall further. Especially if the bull run starts at the end of 2028, then we will see a bear market before that is normal. And the price may fall further. In that case there is no chance to see the Binance hacking as the main reason. Because that issue has already been solved. And yes when bitcoin goes from weak hands to strong hands they are the ones who are profitable. Especially long time holders are in a good position in bitcoin most of the time. When bitcoin was around $60k many said that it would fall below $50k. But then it recovered again. There has been no major fluctuation in the price of bitcoin for a long time. There may be a big change in the price of bitcoin in the future. Those who are long time holders must take their time before making any decisions. They should be prepared for volatility in the price of bitcoin in near future.

[Bitcoin-Forever]

Have you ever been in a situation whereby you are not progressing with positive results and you are not still comfortable seeing others that are achieving their best in that same thing you couldn't emerge any achievement from?

At some point you will see that some people are long-term investors and they will be praying with the hope that the market does not fall until they selling profit, why some may be traders that have taken short positions and will be hoping to see the market fall so that they could make their own profit as well, what applies to me may not directly apply to you the same way and that is where everyone keep striving for the best by doing what is expected of them.

[dzungmobile]

Have you ever been in a situation whereby you are not progressing with positive results and you are not still comfortable seeing others that are achieving their best in that same thing you couldn't emerge any achievement from?

Bitcoin market is not always bullish in short term, and it has a bear market in each market cycle. About two bearish years in each market cycle is too much with many people especially people who gambled with their money, made loan, took too high leverages, and bear market will put their loans, leveraged positions into danger. They're people who not happy in a bear market, and are not able to accumulate more bitcoin during bear markets.

With people who understand about Bitcoin and this market well, then manage their finance, risk and investment capital well, they will have a very long term plan for investment, including accumulation, holding and taking profit. They're people who see great opportunities in bear markets and will not let short term negative ROIs to beat them down or shake out their bitcoin with panic sell.

[goldkingcoiner]

Buyers are hoping for a lower price because they know Bitcoin goes up and down all the time and sellers are in panic because they think once Bitcoin becomes 60K it will flop over and die and become worthless overnight.

Personally, I was hoping to see 100K Bitcoin again this year but that is only due to superficial reasons. The ego of the Bitcoiner. Ha. 

A huge green candle can come sprouting out of the red candle forest at any time. Which might disappoint both sides and then we will see topics of people expecting Bitcoin to price to pump.

Either way, best not to listen to these people. Unless one of them is a real psychic with knowledge of the future.

[Agathamay]

Some funds have been recovered. Tether and Circle also helped Binance by freezing the USDT and USDC that was stolen. Thus means that the hack wouldn't affect Binance much compared to when they didn't recover anything from the $6b that was stolen. However, Binance have opened withdrawals and anyone can withdraw their asset from Binance.

I wouldn't have to start blaming people when they expect the price of bitcoin to drop because of why recently happened with Binance and that is because, binance has a lot of customers and users and as long as the bitcoin space is concerned especially in a country like mine(Nigerian) Binance has created a huge fan base that when you talk about bitcoin, the first thing that people remember is Binance, so I wouldn't blame them when they expect bitcoin to  react  hugely to the Binance incidence.