Bitcoin Trades at $76,400 per BTC on Wednesday

20:20; 04 February 2026 year

### Bitcoin Dominates Crypto Market with Over 60% Share as Prices Fluctuate **Wednesday, November 16, 2023** Bitcoin (XBT/USD) is trading at $76,400 per 1 BTC on Wednesday, maintaining its dominant market share of approximately 60-70%. The total market capitalization of cryptocurrencies has surpassed $3.2 trillion. Ether (ETH/USD) has dropped to $2,200, while Ripple (XRP/USD) has corrected to $1.60. The top cryptocurrencies by trading volume and market capitalization are: - Bitcoin - Ethereum - USDT - Solana, BNB Chain, Dogecoin The price formation mechanism in the crypto market is based on the interaction of supply and demand on exchanges, where prices are set 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 regulator. The daily trading volume of the cryptocurrency market fluctuates around $300 billion. This analysis was provided by Alexey Grishchenko, Ph.D. in 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.

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