Bitcoin's price surge is not just about speculation. In the past 24 hours, the cryptocurrency's trading volume has surged by 35%, indicating a significant increase in institutional and retail investor interest. This comes as institutional investors, such as Grayscale and Fidelity, continue to ramp up their bitcoin holdings. As bitcoin's price approaches $12,000, it's clear that its momentum is driven by more than just hype.

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Institutional investors are driving the surge in bitcoin's trading volume, indicating a shift towards mainstream adoption.