Panic sellers, in my view, are individuals who sell because they're afraid of potential price drops.
I have noticed that the number of panic sellers are steadily on the decline, maybe the fud about Bitcoin being a bubble, and bla bla bla are all dying. People are now waking up to reality that Bitcoin have come to stay. Recent findings shows that a lot of Bitcoin are stashed in various wallets and not being traded frequently. This shows that Hodlers are seriously on the rise.... this is expected though because Bitcoin have proven to be resilient and reliable.
I agree with you on this because when Bitcoin dipped to $16k on January 01, 2023, some people were waiting for the price of Bitcoin to dip even more, but Bitcoin has shown everyone that it can withstand the test of time. So, people have no choice but to adopt Bitcoin and buy it at any opportunity they see, and hodl. I believe this coming bull run many people will regret not buying Bitcoin when they have had the opportunity to do so. Already Bitcoin is getting set to do another marvelous thing again.