My guess is hitting 10 000 was a milestone for a lot of people and it went as high as 11.5k+ earlier today then a whale sold off or something and here is the problem with a bunch of people who own a % selling.. they create a snowball effect and others panic and get scared and start selling. How low will it go? No one knows as for long term hodlers you have nothing to worry about : ). So just hold
Disclaimer: this is not financial advise trade at your own risk
I'd say your description is about spot on, I think it'll find a level about 8500 and maybe close out in the low 9000s by the end of the day. Too much money and too much hype never ends well. It will be interesting to see how people react to this 2k drop in a matter of hours, for many it will be the first time they've seen such volatility.