Bitcoin Surges to $76,900 in First Trading Day of the Week

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Bitcoin (XBT/USD) starts the trading week on a positive note, reaching $76,900 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 $2,100 per 1 ETH.

Ripple (XRP/USD) is valued at $1.4 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 price formation 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, which leads 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 "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.