Don't make a judgment based on just one data point; compare at least two or three dimensions.
Take this one in front of us: slippage losses of about $1.37 million, an Ethereum ICO whale selling 16,700 ETH from 2015, $ETH down 5.25% intraday, with 781 million in trading volume.
This kind of bearish news may cause some funds to wait and see for now. Whether they return later depends on market conditions.