Bitcoin Surges to $76,300 in First Trading Day of the Week

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Bitcoin (XBT/USD) is off to a strong start in the first trading day of the week, surging to $76,300 per 1 BTC. Bitcoin dominates the market with a share of around 70%.

The total market capitalization of the cryptocurrency market has exceeded $3.2 trillion USD.

Ethereum (ETH/USD) is trading at the level of $2,200 per 1 ETH.

Ripple (XRP/USD) is currently valued at $1.6.

Leaders in terms of trading volume and market capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is important to note that cryptocurrency pricing is driven by the interplay of supply and demand on exchanges, where prices are formed through buy and sell orders. Key factors include limited supply, liquidity, technological upgrades, news, regulation (laws/bans), mining costs, market sentiment, and speculation, all of which contribute to high volatility due to decentralization and the absence of a single regulatory authority.

This overview was presented by Alexey Grishchenko, Ph.D., Professor of the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.