I think people have started leaving ethereum for bitcoin. Bitcoin is the strong digital currency which is mainly recognized by the world and it has been accepted as a method of payment. Traders are turning to bitcoin as its transaction fee is also coming down. Unless there is some reform in ethereum, the coin cannot get momentum.
Fees might be a factor but not actually be enough that pushing people to leave ETH and keep Bitcoin. It just people have foreseen that Bitcoin meant to be more profitable at this time but I believe many investors are still keeping ETH for sure. The current situation is very challenging and anytime, those weak hands will sell their ETH at cheap price bringing prices to drop down more.