Does he have any real money in the market? If he does, maybe. If he's just an analyst, then he knows nothing and should be ignored.
Sure, only this isn't panic selling this is very intentional and consistent selling because of a multitude of factors with not enough exits for everyone.
Because no on apart from HFT and insider info traders knows anything. We all know shit, and once a trader realizes it, trading plan can be deployed. Dalio's "cash is trash" is a perfect example, and they are now more than 20 percent down. And this is a guy who manages world largest hedge fund - 160 billion AUM.