These days, someone is again watching large on-chain transfers and fluctuations in exchange hot and cold wallets, saying it's "smart money moving"… I also keep an eye on it, but when it comes to NFTs, it's more like a mood thermometer: when it's hot, the floor price rises, and everyone is willing to ignore that liquidity is actually thin; when it cools down, the sell orders are gradually withdrawn, the floor still looks there, but one step could cause a fall. Royalties are also quite subtle; when the market is good, people say they support creators, but when the market is bad, they start calculating accounts. In the end, it still depends on whether the community narrative can keep the fire going, or else it's just a bunch of avatars looking at each other. Anyway, I don't make predictions, just keep these in mind for reference.