Bitcoin Price Drops to $71,100 in Thursday Trading Session

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Bitcoin (XBT/USD) price dropped on Thursday, trading at $71,100 per 1 BTC. The total market capitalization surpasses $3.5 trillion.

Bitcoin holds the first place with a market share of around 60-70%.

Ether (ETH/USD) is trading at $2,100.

Ripple (XRP/USD) is valued at $1.40.

Leaders in terms of trading volume and market capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is worth noting that cryptocurrency pricing 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 contribute to high volatility due to decentralization and the absence of a single regulator.

This overview was presented by Alexey Grishchenko, Ph.D., Professor of 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.