To grow in price token must be useful for people to be in demand. Now NFT very popular and a lot of new collections appear that offers new interesting products and tools like https://twitter.com/Buakaw113/status/1517463376066396160 which offers NFT from the fighting ring to the digital world.
The matter is when all markets falls - stock markets, cryptocurrency markets even falls the price to gold people lose their trust to investments at all, because they lose their money whatever they invest.
Now many people lost their jobs. They do not have any money on life, and no money for investment.
That is why they sell all their assets to have some money for life.