Bitcoin (XBT/USD) Adjusts in First Trading Day of Week, Reaching $78,000 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 $78,000 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 around the level of $2,300 per 1 ETH.

The current exchange rate of the cryptocurrency Tether (USDT) to the Russian ruble (USDT/RUB) is 84.87 rubles per 1 USDT.

Market 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, leading 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 at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.