These days, browsing NFT markets, it feels like the floor prices are as fragile as paper; as soon as there's a little volume, they get smashed through. But communities with real narratives are quite stubborn; everyone prefers to hold and not sell rather than admit it's cooling off. Royalties are also quite awkward—basically, it's a tug-of-war between liquidity and creators. If you want better entry and exit, someone will push the royalties down, and in the end, the only lively activity left is "sweeping the floor."

By the way, when I see large on-chain transfers and hot/cold wallets moving on exchanges, the comment section starts interpreting it as smart money. Sometimes I glance at it too, but really using it as a signal to chase is pretty tiring... Anyway, I’m currently just watching the depth of transactions and the order book structure. If it cools down, I accept it; if it heats up, I don’t get carried away—just sticking to this for now.