The differentiation of HPCs into various blood cell lineages is influenced by a combination of intrinsic factors like transcription factors and extrinsic factors such as cytokines and growth factors. Key cytokines include erythropoietin (EPO) for erythrocytes, granulocyte colony-stimulating factor (G-CSF) for neutrophils, and thrombopoietin (TPO) for platelets. The bone marrow microenvironment, or niche, also plays a crucial role by providing the necessary support and signals for HPC maintenance and differentiation.