Demand is dropping (actually, there never was any demand). These go unsold for a week or more at 2 ref. There aren't many sellers at 1.66, but that may be partially due to sold links not showing at the moment. However, the sheer number unsold at 2 ref indicates that a price drop is needed.

2 ref

http://www.tf2outpost.com/trade/8124618 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8147932 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8113295 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8208513 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8204998 - Unsold for 2 ref

http://www.tf2outpost.com/trade/7946444 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8228813 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8129923 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8119713 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8212657 - Unsold for 2 ref

http://www.tf2outpost.com/trade/8246459 - Unsold for 2 ref

1.66 ref

http://www.tf2outpost.com/trade/8243694 - Selling for 1.66

http://backpack.tf/classifieds/search/992/6/0 - Selling for 1.66

Definitely not 2 ref. Has anyone tried selling one of these for 2 ref in the last couple of days? If you noticed, my last suggestion didn't actually have any sold at 2 ref, but it was the lowest selling price I could find. After doing some more research, this isn't going for 2 ref anymore (if it ever was).