Bitcoin price drops, trades at $79,400 on Thursday

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Bitcoin (XBT/USD) saw its price drop on Thursday, trading at $79,400 per BTC. The total market capitalization now exceeds $3.5 trillion.

Bitcoin holds the top spot with a market share of approximately 60-70%.

Ethereum (ETH/USD) is trading at around $2,400.

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

Leaders in terms of 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 interplay 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, Ph.D., Professor of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.