but a correction would mean that BTC are overvalued but i cant see how they are if people are still wanting to buy them and its also counterintuitive for people who own BTC to sell.
Who says people want to buy them? If the price (of anything) drops, it should be because either supply increased (not possible in the case of Bitcoin) or demand decreased. If the prices are dropping due to lower demand, then that's exactly what's happening, that people don't want to buy them at that price point.
Likewise if prices are dropping, then people who bought low want to sell them asap as high as possible before the price goes even lower.