Bitcoin Drops to $67,200 in Thursday Trading Session

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Bitcoin (XBT/USD) closed lower on Thursday, trading at $67,200 per BTC. The total market capitalization stands above $3.5 trillion.

Bitcoin remains the dominant cryptocurrency, accounting for around 60-70% of the market.

Ether (ETH/USD) is trading at around $2,000.

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

Top cryptocurrencies by trading volume and market capitalization include:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is important to note that cryptocurrency pricing is determined by the interaction of supply and demand on exchanges, where prices are formed through buy and sell orders. Key factors influencing prices include limited supply, liquidity, technological updates, news, regulation (laws/bans), mining costs, market sentiment, and speculation. This leads to high volatility due to decentralization and the absence of a single regulatory authority.

This overview was provided by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.