I was wondering about this myself, On the way home from the UP of Michigan on I-75. I was traveling at a constant speed and my volt meter was dancing between 13.7 and 14.1 up and down while maintaining a constant speed of around 70 mph. (I put a new OEM alternator in this past January 2019). I never noticed this "dancing" of the voltmeter under a constant speed before. At first I thought my new alternator was failing, but then it went to 14.1 volts and stayed there for most of the rest of the ride. Then I was recalling that when the cooling fans kick on the voltage would drop like that- I just never noticed it under constant speed before?
Would the cooling fans kick on while under way traveling around 70 mph?
Something (phantom) was putting a draw on my electrical system while at a constant speed that I have never seen before. My bike is basically stock electrical - except for GPS, battery tender,voltmeter, and a charging port in my top case. I have nothing else wired to it. I did have my phone plugged into the top case charging port but I don't think it would have made the voltmeter dance like that.