What is visible here and nowhere else
Exchange inflows and outflows, wallet concentration, staking flows, and stablecoin issuance are all public in near real time. In equities the equivalent data is either private or reported quarterly with a delay.
The decay problem
Public data with a known interpretation stops being an edge once enough capital reads it the same way. Several on-chain signals that worked cleanly in earlier cycles have weakened as they were commercialised into dashboards. Assume decay and re-validate rather than assuming persistence.
Where it still helps
As a risk input rather than an entry signal. Large exchange inflows preceding a sell-off are a reason to reduce size, and reducing size on ambiguous information is a much lower bar than entering on it.