In the past five weeks, Ethereum (ETH) has surged from $2300 to $4000 USD, while the NFT market has seen a downturn, with Bored Ape Yacht Club (BAYC) floor price plummeting 89% to 15 ETH and Mutant Ape Yacht Club (MAYC) floor price falling 94%. This trend has sparked discussions about the valuation of NFTs in a bull market for ETH, with some suggesting that the focus should shift from floor prices to average moving USD prices. The sentiment within the NFT community appears to be at a low, with debates on whether the market has reached its bottom. Analysts and enthusiasts highlight the need for a cultural catalyst to revive the NFT market.