Bitcoin price drops to $69,900 in Thursday trading (XBT/USD)

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Bitcoin (XBT/USD) saw its price drop on Thursday, trading at $69,900 per 1 BTC. The total market capitalization surpasses $3.5 trillion.

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

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

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

The 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 determined by the interplay 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, regulations (laws/bans), mining costs, market sentiment, and speculation, resulting in high volatility due to decentralization and the absence of a single regulatory authority.

This overview was provided by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.