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That's how market work.

Let's say you magically come into possession of 1% of SpaceX and want to sell it quickly. The selling pressure would nosedive the price by way more than 1%. And the more the value of something is 'thin air', the bigger the effect.

I can only suppose that the people that stole these BTC will try to sell at least part of it quickly.

If cryptocurrency exchanges are regularly robbed, surely that is negative for the cryptocurrency as a whole?

Thats how it always works though? If 1b got stolen from a bank, the value of the bank doesn't just fall by 1b, because suddenly no one trusts that bank to store their money, so the hit on the value of the bank is a lot higher

Because adding this to the recent Ledger hack, how is anybody going to keep their crypto safe?

Isn't it only going to get worse from here?