whats the phenomenon called where demand for speculating on the asset is larger than demand for the asset?

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> the term tulip mania is now often used metaphorically to refer to any large economic bubble when asset prices deviate from intrinsic values.

this checks out

though one thing i'm getting at is i'm not sure if this is always a "bubble" ie something that will "pop" - but rather the speculative demand might end up sustaining and just becoming baked into the "intrinsic value"

not really a term for this i think since most assets are traded with a speculative angle. otherwise FA metrics would command all price action.

but another term that rings close to what you are describing is reflexivity.