Bitcoin Surges to $75,000 in First Trading Day of Week

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Bitcoin (XBT/USD) is up on the first trading day of the week, reaching a mark of $75,000 per 1 BTC. Bitcoin dominates the market with a share of approximately 70%.

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

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

Ripple (XRP/USD) is quoted at $1.4 per token.

Market leaders in terms of trading volume and capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is worth noting 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 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 provided by Alexey Grishchenko, Ph.D., 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.