Bitcoin Surges in First Trading Day of Week, Hits $77,700 Mark

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Bitcoin (XBT/USD) is rising on the first trading day of the week, reaching a mark of $77,700 per 1 BTC. Bitcoin dominates the market with a share of around 70%.

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

Ethereum (ETH/USD) is trading at the level of $2,320 per 1 ETH.

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

Leaders in terms of trading volume and market capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is worth noting that the pricing mechanism in the cryptocurrency 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 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.