the blockchain analysis shows that a lot of bitcoin hodlers are actively buying bitcoin and increasing their wealth by taking advantage of the current discount offered to them by the weak hands and their panic sells.
as we can see here the number of addresses that are holding more than 1 bitcoin is significantly increasing which shows how people who were struggling to reach 1BTC target are succeeding these days and are even surpassing that target heading to the next one.
It's always like that. The majority of the people have a very short term vision, they want it all and they want it now, and they end up selling everything for a fraction of what they've paid, then they complain that BTC is a scam etc etc. This is the right moment to slowly start accumulating. Can it go lower? Of course, but maybe it's time to get something, then we'll see.