Still don't know about bad news behind bitcoin dropping drastically after success raise more than $69k and without few hours price down roughly until 12%. I think correction is normally when bitcoin have been on higher price and usually all altcoin will face the correction moment but not have to be panic with faster potential bitcoin can recovery as soon possible.
You can see current bitcoin price right now almost close with the highest price but little difficult with faster recovery for altcoin, need to be more cool facing correction moment and don't be panic for selling our bitcoin. "If you can't hold, you won't be rich" always remember what said by CZ as Binance CEO former.
It might be of interest for us to also note that same scenario also occured in November 2021, Bitcoin also experienced a sudden drop after it also reached a high of over 69k, it was also very alarming and unexpected for a lot of investors as there also raised questions to why Bitcoin experienced such a fall after advancing with such a positive trend.
There are a number of possible explanations to justify the declination in price. First, we could consider profit taking as one of the reasons. Bitcoin has reached it's ATH so it's possible that many investors believe that this action could be accompanied by a declination, and seeing they were in profit, decides to take out their profit, if several investors do this, then it's enough to cause a sudden decline in the price of Bitcoin.
Again, we all know that Bitcoin is a very volatile asset and volatility is a normal part of investing and Bitcoin can drop drastically without something bad necessarily happening, but even with a significant drop, Bitcoin has still experienced a net increase in value over the long-term.