In a downtrend, bad news make the price go down faster, good news does nothing.
We have good news and the price did not do anything. People are sitting on mountain of profits that need liquidity to get out. The mainstream media more or less picked up the news so the distribution can happen. Everyone who wanted to buy eth (I'm speaking about the BTC community) already has or does not intend to.
But my main reason is my interpretation of TA.