On the top of my head:
1. some macro stuff
2. some covid stuff
3. people are over-leveraged
4. because markets do markets stuff
Pick one or a few; your guess is just as good as mine.
Yes I also think so , and market always crashed before going to new ATH . Hopefully this time this correction will show us the next level new ATH before the new year start . And this opportunity to buy in low price and hold for new ATH