Every drop has been to some whale cashing out, so in what sense is this or any event like this ever a crash, this is a supply and demand, a crash is a critical error of the system! I am just fed up of watching you tubers saying there is a massive crash, no its a massive market correction people, The term crash imply there is something fundamentally wrong with the algorithm (like a 51% attack) and should seriously worry about our investment choices.
A crash does not imply having a fundamental problem in the system, the meaning itself has the answer, any sudden drastic change to the value of 20% and above can be termed as a crash and it can happen due to many reason, when huge investors booking their profit and we know that billions are invested in a short period of time by huge investors and they can create a panic selling once they book their profit and the market could correct to the range of around or over 20%.