There is no official bitcoin price. The price is whatever buyers and sellers agree on, at many places at once.
Order books
On an exchange, buyers post bids ("I'll pay X") and sellers post asks ("I'll sell at Y"). A trade happens when they meet. The last trade is the "price". A large order "eats" through the book and moves the price more when the book is thin.
One global price
Prices on different exchanges stay close because traders buy where it is cheap and sell where it is expensive (arbitrage). Price trackers average several exchanges. As of 23 October 2026, mempool.space showed about $81,400 (≈ €72,700).
Supply side
Only new supply is fixed: about 450 BTC per day from mining (3.125 BTC × ~144 blocks) as of October 2026. Most trading is existing coins changing hands, so long-term holders' willingness to sell matters more than new issuance.
Demand side
- Individuals saving or spending.
- Companies and funds; U.S. spot bitcoin ETPs were approved in January 2024.
- Speculators, often using leverage and derivatives.
What about the halving?
Each halving cuts new supply in half. Many expect this to support the price, but its effect is debated and is not guaranteed. It is a known event, so markets can price it in advance.
Takeaway
Price is a vote by buyers and sellers. Bitcoin's rules do not set it, but they do make supply perfectly predictable – which no national currency can offer.