Why Is the Crypto Market Up Today?

The Total Crypto Market Cap (TOTALCAP) is attempting to break out from the $844 billion resistance area, reaching its highest price since Nov. 7. The Bitcoin (BTC) price broke out from an important Fib resistance while the Avalanche (AVAX) price broke out from a descending wedge.

There was some positive crypto market news on Jan. 11. The world’s leading cloud computing service provides, Amazon Web Services (AWS) announced a partnership in order to help with scaling the adoption of blockchain technology in different industries. The partnership will make it simpler for people to launch nodes on Avalanche, the Layer-1 blockchain of Ava Labs.

The Binance exchange continued its expansion by gaining a regulatory license in Sweden. This could lead to an increase of the workforce by another 30%. Finally, El Salvador passed a bill that will allow the issuance of Bitcoin bonds.