📊 The crypto speculation index shows that the speculative excesses that prevailed in the first quarter have dissipated. This signals the potential for a renewed bull move in bitcoin {{BTC}}, the leading cryptocurrency by market cap. 🚀

The speculation index measures the percentage of alternative cryptocurrencies (altcoins) that have a 90-day return of more than 90% and have stabilized below 10%. Bitcoin reached new record highs above $70,000 in the first quarter and has since fallen to $58,000.

Clearing out speculative excesses serve as corrective mechanisms that realign asset prices with fundamentals and mitigate excessive speculation. This paves the way for a healthier environment in the long run.

This is also the case in the crypto market. Since 2019, a speculation index below 10% has coincided with the onset of sharp bitcoin rallies, as observed in the first half of 2019, late 2020 and the second half of 2023.

Do you think this could be a sign that Bitcoin will start a new rise? We are waiting your comments! 💬