Bitcoin Surges to $68,500 in First Trading Day of Week

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Bitcoin (XBT/USD) kicks off the first trading day of the week with a rise, reaching $68,500 per 1 BTC. Bitcoin dominates the market with a share of approximately 70%.

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

Ethereum (ETH/USD) is trading around the $1,900 level per 1 ETH.

Ripple (XRP/USD) is valued at $1.5 per XRP.

Market leaders in terms of trading volume and 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, resulting in high volatility due to decentralization and the absence of a single regulator.

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