Ether fell 7.9% over the past 24 hours, with the overall crypto market down 3.45%, as investors continue to weigh the impact of Mt. Gox’s latest transfers and macro developments.

Ether was changing hands at around $3,166 at the time of writing, down 7.9% in the last 24 hours, according to The Block’s price page. Bitcoin dropped 2.52% to trade at $64,200 at the time of writing.

“The pronounced pullback… is not only unsurprising but expected,” Justin d'Anethan, head of APAC business development of crypto market maker Keyrock, told The Block. “The market’s memory is short but, while the spot bitcoin ETFs did push prices higher, in the very beginning, crypto markets went down.”

“Many speculators unwind their trade,” d'Anethan added. “This is all too common: buy the rumor, sell the news. …