Bitcoin Price Adjusts on First Trading Day of Week, Reaches $63,400 per BTC

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Bitcoin (XBT/USD) is correcting on the first trading day of the week, reaching a mark of $63,400 per 1 BTC. Bitcoin holds a market share of approximately 70%.

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

Ethereum (ETH/USD) is trading at around $1,900 per 1 ETH.

The current exchange rate of the cryptocurrency Tether USDT to the Russian ruble (USDT/RUB) is 87.85 rubles per 1 USDT.

Leaders in terms of trading volume and capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is worth noting 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 lead 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 of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.