Historically, as soon as bitcoin makes national press, it drops. Amateur investors jump on without the stomach for the hiccups, leading to the subsequent virtual "bank run"
A bank run is a pretty specific thing (https://en.wikipedia.org/wiki/Bank_run), you shouldn't use that term for any general situation where lots of people decide to sell something at the same time, or where a price of something drops precipitously.
There often is a run on the exchanges, with people desperately trying to withdraw cash or cryptos before the exchange collapses. Often that's what pushes the price to the very top. On one or two exchanges there is a liquidity crisis, so people will bid up Bitcoin because that can be the fastest way to get money off the exchange.
Feel free to contribute a more accurate term
Price drop. Supply glut. Demand shortage. Investor flight. Fire sale.
"illusion of patterns in randomness"
Flash crash? Especially if it involves a lot of limit orders triggering, which is quite likely in the case of bitcoin.
Panic sell
Stop running and shaking out the weak hands ;)
"correction"
Bubble collapse
Historically, Bitcoin is still very young so not enough data to predict let alone the fact that predicting these kinds of things is by nature hard/impossible.
NASDAQ is 46 years old. Bitcoin is 8. How many years until chart analysis applies?
Same as with NASDAQ: never
Funnily enough between the time this article was posted and now BTC crashed from $1800 to $1700 and then bounced back up