That's a huge drop in the velocity of M2 money.
The value of a currency is dictated by its supply vs demand.
One of the key sources of demand is the velocity of money because transactions take money out of circulation for a period.

Its not surprising that the US$ is falling rapidly against other assets.
The Israeli shekel (which cannot be printed will nilly) is at a 12 year high against the US$.
BTC also at almost record high.

ETH still a long way below record highs of $1500.