Bitcoin Dips Below $83,000 in First Trading Day of the Week

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Bitcoin (XBT/USD) is experiencing a correction on the first trading day of the week, reaching a mark of $82,700 per 1 BTC. Bitcoin dominates the market with a share of around 70%.

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

Ethereum (ETH/USD) is trading at a level of $2,430 per 1 ETH.

The current exchange rate for the cryptocurrency Tether USDT to Russian ruble (USDT/RUB) is 86.85 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 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, Ph.D., 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.