Starting last year until now, transaction fees have improved compared to the previous bullish period. Right now, fees are still cheap compared to the past, where sometimes they even reached $100 or more during a bull run. So, what changed? Will these low fees continue in the long term, or might we see another spike in fees when the price of Bitcoin surges again?
As others have mentioned, less spam coming from ordinals, it was so expensive back then because people are racing to mint ordinals etc and willing to increase their fee to put themselves ahead of the crowd, imagine thousands of people doing exactly that and you'd find the fee sky rocket.
Right now no such thing happening and the fee is totally bearable. This is why many people also complained with the existence of ordinals and consider it as just a nonsense spam. Such thing should've been settled on L2.