Not sure it is really such a case of Ethereum dumping hard, since almost the entire crypto market is being "dumped on" right now.
You can see Bitcoin's struggles for the past week having a severe effect on alts and in fact, ETH is performing slightly better in terms of losses than Bitcoin, so I would not say anyone is dumping ETH specifically. Am losing a lot ground on Litecoin, for example, which is making me sad!