The Capriole Investment Speculation Index shows that the speculative excess that dominated the first quarter has disappeared, indicating the possibility of a renewed bullish trend for Bitcoin.

The index, which measures the percentage of altcoins with 90-day returns greater than Bitcoin, has stabilized below 10%, down significantly from a January high of nearly 60%.

Speculative spikes serve as corrective mechanisms to help align asset prices with fundamentals and curb excessive speculation. This creates a healthier environment in the long run.