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 1
BTC target are succeeding these days and are even surpassing that target heading to the next one.

source of the pic is reddit
This is the reason why those newbies or weak hands have fears in the bear market because they can't control their emotions seeing their investments value have dropped so much. So instead of doing the right thing, they tend to panic emotionally and end up selling their coins at a very low value. The reason why they end up still very poor no matter how hard they try to invest and leave the rich hodlers of bitcoin become richer in less time.