It's amazing how people refuse to understand some things and constantly make the same mistakes - and most buy BTC only when the price goes up, instead of doing the exact opposite. It does make some sense from a short-term profit perspective, but just a few days ago the price was below $30k, all indications were that the trend would change and the bull run would continue - but some will never realize they need to believe in BTC always, not just in moments like this.
We'll be talking about panic buying above 100k$.
If you think that retail customers will be in a panic only after $100k, I would not agree with that - because even now the price is out of their reach, so they mostly buy altcoins (I'm talking from personal experience with some of my friends). What may happen at that point is that some big players may start buying (because money is not a problem for them), but it should be borne in mind that every bull run and new ATH ended in a brutal correction - I would be happy if that the correction is only 50% after the next ATH.