Don't you think this is a trick?
Maybe they are just trying to buy cheaper. Collecting them slowly.
When they pump them again will you be able to buy them back cheaper than now?
What is going to happen in august? will bearish trend go on?
Are you sure that you ll not have to buy more expensive than now?
Isn't it what they want? They want to buy cheap and sell expensive. That is why some people must buy expensive and sell cheap.
By definition the person you are describing is not a panic seller, the person you are describing is a trader, someone that is making a calculated move now in order to try to profit from said move in the future, in my opinion is a gamble, it may work or not, but the panic seller is someone that is not thinking about that, they are just afraid of losing money and have decide to sell regardless of the consequences.
It is something like this, for example you are playing poker. You have a nice hand so you bet. Your opponent is raising the bet. So you are just scaring and folding.
You dont know your opponents hand. When you fold you will need another good hand in the future to win. Will you have this again?