Ansem: The fact that BTC dropped only about 2% after the $6 billion hack does not indicate that the downward trend has ended.

According to TechFlow, on October 30, Ansem (@blknoiz06) posted that treating "BTC's mere ~2% drop after the $6 billion hack" as a bullish indicator misinterprets BTC's current trading structure. He pointed out that in 2017, BTC was the primary vehicle for retail leveraged speculation, but from 2020 to 2021 onward, retail investors gradually shifted to altcoins, then to on-chain trading, memecoins, and equity perpetual contracts, leading to a significant decrease in speculators positioning long or short on BTC.

Citing the liquidation event on October 10, 2025, Ansem noted that altcoins crashed within a single candlestick, while BTC sustained above $100,000 for weeks until making noticeably lower lows in November. He believes BTC's limited immediate decline is caused by reduced high-leverage participation and more passive selling pressure, which does not imply the downtrend will not persist.