Bitcoin (XBT/USD) Corrects Lower on First Trading Day of Week, Hitting $62,600 Per Coin

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Bitcoin (XBT/USD) is experiencing a correction on the first trading day of the week, reaching a mark of $62,600 per 1 BTC. Bitcoin dominates the market with a share of approximately 70%.

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

Ethereum (ETH/USD) is trading at the level of $1,850 per 1 ETH.

Ripple (XRP/USD) is quoted at $1.05.

The 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 presented by Alexey Grishchenko, Doctor of Economic Sciences, Professor at the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.