After a difficult few weeks, Ether and other altcoins such as Solana and Cardano are now down.
According to CoinGecko the overall cryptocurrency market has fallen 4% in 24hrs
This is after Terra's ecosystem collapsed completely, destroying TerraUSD (UST)
There were also longer-standing macroeconomic factors which had been adding downward pressure to cryptocurrency markets.
The stablecoin saga is over, and crypto markets are back to the macro narrative that drove them all year.
Although yesterday's Fed[eral Reserve] minutes announcement wasn't enough for investors to be excited
it was enough to keep them on edge," Michael Safai managing partner
Ether fell to $1,765, falling as high as 11% Thursday. It currently trades at $1,821, which is below $2,000.