We all panic and cut loss is the right answer, no volume no profit we can get. Many trader/ investor fix their strategy by cut loss not easy for them but they don't have any reason to keep stay. There's no buy or hold anymore because every day the price goes down. Our asset doesn't have value anymore, don't complaint just leave the market.
Leave the market and come back later to open another thread on how you failed to listen to people telling you to buy the dips and how you have missed it. I saw a couple of those threads even last year as a lot of people were getting FOMOlyzed. The problem with people is that they just do not listen, and they pretty much just doing the same thing they feel like over again, even after giving them a clue what they should be doing.
I remember these same people who are complaining now, being told last year, to wait for a correction and stop jumping into FOMO, but they keep telling you, you are trying to block them from getting wealthy. Now, you tell those same people to be accumulating the dips, they keep saying they cannot because they are scared and done with the market. I guess people will just never learn.