This depends on the situation because if you are an investor and you made an entry at the top of the market and of course you dont have a budget anymore to buy only your choice is to hodl your coins and you dont want to see your bitcoins value going down, now next is the people who have a perspective that accumulation is the best because you are aiming for a long term hodl and you will see the potential at the next cycle so loses is part of your journey so you dont care much the bitcoin already prove its potential already all you need is to trust.
With people who are investors and truly had their plans as investors, they will not feel panic by making a wrong entry. Because surely they can simply hold their coins bought around ATH, hold it for market recovery, wait for a next market cycle, a next bull run, and next ATHs in the future. People only get panic if they don't have good finance, don't make proper financial management and their bad investment entries mean they won't get profit in short term and mid term, then if unluckily emergencies come, they will have to sell bitcoins with losses.
With investors who are either newbies or experienced investors, if they use good and safe investment approaches such as Dollar Cost Averaging which supports by good finance and risk management, they will do Bitcoin accumulation gradually over time quite comfortably without stress from bear market.
