The situation of the market is not stabilized and it is affecting most top-ranked altcoins like ETH, this makes many people lose their confidence in ETH. People who have confidence will always grab the ETH coin and they won't bother about the market.
it is not an unstable market situation that makes confidence in ETH decline.
see, many scam projects come from the basis of the ethereum blockchain. because it's very easy to make tokens from an etheruem basis. now developers of the ethereum platform must solve this problem if they don't want investor confidence to really disappear.