From time to time, the price of tokens inflate and deflate with respect to both demand and supply globally and also the manipulations in pricing amongst the marketers. Ethereum is not left out of this spcae as it happens to be a necessary reosource in the crypto cureency space and more especially those looking to utilise the ethereum blockchain in deploying their own smart contract.
You definitely missed out on crypto 102 haha. Sure, demand and supply plays the traditional role of economics, but in crypto especially with alts, we have a problem where a few people own the majority of the supply and thus they are able to determine or falsify demand. This could have been the case with ETH during ATH.
Unfortunately, this can be said about BTC. But alts are easier to manipulate