Bitcoin Surges to $73,800 in First Trading Day of the Week

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Bitcoin (XBT/USD) is gaining ground on the first trading day of the week, reaching a high of $73,800 per 1 BTC. Bitcoin dominates the market with a share of around 70%.

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

Ethereum (ETH/USD) is trading at the level of $2,300 per 1 ETH.

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

Leaders in terms of trading volume and market capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is important to note that the pricing mechanism in the crypto market is based on the interaction of supply and demand on exchanges, where prices are formed through buy and sell orders. Key factors influencing prices include limited supply, liquidity, technological updates, news, regulation (laws/bans), mining costs, market sentiment, and speculation, leading to high volatility due to decentralization and the absence of a single regulator.

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