Bitcoin Drops to $69,800 in Thursday Trading (XBT/USD)

© ООО Региональные новости

Bitcoin (XBT/USD) closed lower on Thursday, trading at $69,800 per 1 BTC. The total market capitalization now exceeds $3.5 trillion.

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

Ether (ETH/USD) is currently trading at $2,200.

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

Leading cryptocurrencies by trading volume and market capitalization are:

- Bitcoin,

- Ethereum,

- USDT,

- Solana, BNB Chain, Dogecoin.

It is important to note that cryptocurrency pricing is driven by the interaction of supply and demand on exchanges, where prices are determined by buy and sell orders. Key factors influencing prices include limited supply, liquidity, technological updates, news, regulations (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 prepared by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Faculty of Higher School of Management, Financial University under the Government of the Russian Federation.