According to data provided by CoinGecko, the price of Bitcoin, the largest cryptocurrency, has crashed to $79,276, the lowest level since November. The flagship cryptocurrency is now down 26.6% from its record peak of $108,786. The bellwether cryptocurrency is down more than 6% over the past 24 hours alone. The majority of top altcoins have underperformed Bitcoin. The Ripple-affiliated XRP cryptocurrency has plunged by 8.2% over the past 24 hours. However, there are some signs that at least a short-term price bounce might be on the horizon. A whale loses $17 million Analytics firm Lookonchain has revealed that the whale who went long on Bitcoin two months ago has now lost more than $17 million. The whale is now on track to be liquidated if the price of the leading cryptocurrency collapses to $69,839. A textbook correction? According to 10x Research, the cryptocurrency market correction was expected due to waning speculative momentum. According to the firm, the shift in sentiment has "significantly dampened" retail speculation.