While this is happening, people can only sell, so the market's price can only go down. If there is an issue, then the market should at least be paused to prevent this from happening.
Are you sure about that?
It is one of the biggest problems an exchange can face. If you are right they should stop exchange and make maintenance as soon as possible.
Don't have any BTC on the exchange right now to check the issue but if that problem is real I agree they should immediately fix the issue.