As said by the OP, the bullish market is real but the new institutions that joined cryptocurrency investment particularly the trading activities executed on Paypal are the cause of this during the market dump in price cause what we are seeing in the market is not just a correction but manipulation.
There will be manipulation of course considering market cap wasn't that huge yet and there are still who owns large amount of bitcoins, it's easy to manipulate such market plus it wasn't that yet regulated to it's full extent. By the way, OP never said something about the manipulation it's you who brought it up can you link me about this case, is this something you've read on the web? Please and thanks in advance.