Bitcoin Dips Below $63,000 in First Trading Day of the Week

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Bitcoin (XBT/USD) experiences a correction on the first trading day of the week, reaching a price of $62,700 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 around $1,780 per 1 ETH.

Ripple (XRP/USD) is valued at $1.1 per coin.

The leading cryptocurrencies by trading volume and market capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is important to note that cryptocurrency pricing is driven by 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 prepared 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.