The fact is that blockchain technology is still a trend and continues to evolve and be applied in various sectors of the economy. This is an advanced technology, the benefits and advantages of which are understood by many entrepreneurs, bankers, government officials and ordinary people. It is not necessary that the development of blockchain technology should move in parallel to Bitcoin and other cryptocurrencies.
Although I agree with your first two sentences, I would argue with the last one. Bitcoin and other cryptos are going hand in hand with blockchain technology, and normally people who realize the benefits of the technology invest in Bitcoin and some other established cryptocurrencies because it's not that hard to predict that with wider adoption the price of some best cryptos will rise.
Blockchain technology
is a trend, but it is a trend among a few people, and even some current Bitcoin holders are not among them. That's why we sometimes experience such big drops as we did recently. It's not a "correction" because Bitcoin should cost much more than $20k, it's the result of not understanding by vast majority of people that blockchain technology is so beneficial that it will be inevitably adopted on a large scale in the nearest future.