I do not think that it will be all that "panic" for the time being, it feels like its going to be alright. I think its going to be fine and nothing will change and people will be fine about this because volatility isn't something we care about all that much. I do know that volatility is something that we do care about, we shouldn't really consider the current situation as that volatile neither, it will do very well. The reality is that we shouldn't really be in panic all that much, we can make it whatever we want and keep holding and not have any type of worries at all, its something very normal for us to keep holding.
As long as we are referring to Bitcoin, then volatility can never be exempted. I still don't know or understand why people panic so much, when they clearly know, or must have seen how Bitcoin price movement works. Bitcoin was sometime $10, $100, or even $1K, but today, we are talking about thousands of dollars. History already has the record that the price of Bitcoin moves upward overtime. I believe so many of us here can't even picture Bitcoin dropping down to as low as $25K again, so there isn't really much to panic about, especially for a long term hodler.
But it's actually a common thing for short term hodlers, especially traders to panic when the price of Bitcoin isn't doing really great. Traders who buy at a certain price might not want to sell below that price due to loss, because no one goes into crypto to make losses.
So I think, there is no point to panic, especially as a long term investor/hodler. But we can't really say the same for traders.