My analysis is the traders who are dumping are the same people who came in late. They thought that ETC will reach ETH parity in a short amount of time so the bought at any price available. The few clever ones dumped on the buyers early and took profit. When the majority realized this they too dumped taking small profits and some dumped resulting in losses.
The trade volume of the ETC is quite low at the moment. I think the big dump has not started yet so far.
Or it will not happen. Charles Hoskinson has already committed in helping ETC get organized for the creation of a road map, build a structured governance, get developers to start working on the platform and finally provide funding for maintenance. Even if you are an ETC hater it would be stupid to dump now. It is better to wait for a better price to sell.
If the white hat hacker dump the ETC to the market and donate the proceeds to the ETH community, then it might not be good for ETC.