BTC might rally to 7200 in the short term but 6,000 is the likely outcome!
The reason for the slump is not the exchange hack: Opinion
Whales that manipulated the futures contracts are running for cover and selling. Think about it. They need to sell because if the SEC pursue them they could work a way to freeze their Bitcoin. The SEC and Justice Department are tracking these entities. The whales will liquidate to FIAT and re-enter most probably doing cloaked pumps and dumps on coins!
This is my opinion!
I'm not sure that it will come to 6k, it is clear that this price will be very convenient for buying. But the maximum drop will be up to 6.5k not lower. Especially since this catastrophic period remains not so long and it is not so much as to lower prices so much.