Bitcoin's latest price surge has led to a significant increase in trading activity, with daily volume reaching $18 billion. This surge is largely attributed to institutional investors entering the market, driven by growing confidence in the cryptoasset's long-term potential. As a result, Bitcoin's dominance index has risen to 62%, its highest level since July 2019.

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Institutional investors' confidence in Bitcoin's long-term potential is a significant factor driving its price surge and increased trading activity. This influx of capital will likely lead to further stability and growth in the market.