This is more than a correction, it's a pure dump who bought earlier thinking that bitcoin will have more pump. If it was a correction, it would be more slower than it is now.
I agree this looks like more than just a correction the price drop happens so fast .
And it could be true that the early investor who bought it while it is at a low price have taken their profit and waiting to enter again soon.
I think we would see it pump again soon when those who took their profit enters the market again.