a market correction is only in a healthy market where there has been a healthy rise and then the drop itself is small and logical and in short healthy.
nothing about the past weeks drop is healthy in my eyes.
the bitcoin price rise was mostly healthy and the first drop was also healthy and market corercted itself, then it became panic sell and dump at some point.
as for altcoins nothing about rise nor drop was healthy. they were pumped with fake methods and they got dumped hard. that is not called a correction.