**Bitcoin**, **Ethereum**, and **Dogecoin** saw a rebound on Tuesday, recovering from the heavy sell-offs that pushed prices down to an 8-week low on Monday. **Bitcoin** climbed above $62,000, fueled by relief after concerns over **Mt.Gox** repayment plans subsided. **Ethereum** also experienced buying pressure, potentially boosted by SEC Chair **Gary Gensler**'s positive comments about spot **ETF** reviews.  While the market showed signs of recovery, with Bitcoin's Open Interest rising, the **Cryptocurrency Fear & Greed Index** remained in the "Fear" zone, indicating cautious sentiment. Analyst **Ali Martinez** believes this dip is a prime opportunity to buy **Bitcoin**, citing the oversold **RSI**. **Rekt Capital** points out that **Bitcoin** is consolidating in a post-halving re-accumulation range, with a resistance level around $71,500.

Leading cryptocurrencies bounced back Tuesday, a day after heavy sell-offs sent prices plummeting to an 8-week low.&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.42%</td>
<td>$61,798.16</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>+1.36%</td>
<td>$3,393.50</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+6.22%</td>
<td>$0.1264</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin witnessed a steady ascent during the day, briefly rising above $62,000. The relief rally came after the King Crypto dipped below $60,000 on Monday on fears of Mt.Gox&#039;s repayment plans.&nbsp;
Buying pressure was back for Ethereum, seemingly boosted by SEC chair Gary Gensler&#039;s<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39491834/sec-chair-gensler-says-ethereum-etf-review-going-smoothly"> comments about the review </a>of spot ETFs going "smoothly."
As many as 32,307 traders were liquidated in the last 24 hours, with total liquidations at $87.59 million. Short liquidations accounted for 64% of the total.
The rally fueled a 0.19% jump in Bitcoin&#039;s Open Interest in the last 24 hours, a sign that fresh money has come into the market.
The number of traders taking bearish bets on Bitcoin rose vis à vis those bullish on the asset in the last ...<a href=https://www.benzinga.com/markets/cryptocurrency/24/06/39493664/bitcoin-ethereum-dogecoin-rebound-from-mondays-fall-how-long-before-king-crypto-hits-curre alt=Bitcoin, Ethereum, Dogecoin Rebound From Monday&#039;s Fall — How Long Before King Crypto Hits Current Range Highs Of $71.5K?>Full story available on Benzinga.com</a>

Loading...Loading...Leading cryptocurrencies bounced back Tuesday, a day after heavy sell-offs sent prices plummeting to an 8-week low. CryptocurrencyGains +/-Price (Recorded 8:30 p.m. EDT)Bitcoin BTC/USD+2.42%$61,798.16Ethereum ETH/USD+1.36%$3,393.50Dogecoin DOGE/USD+6.22%$0.1264What Happened: Bitcoin witnessed a steady ascent during the day, briefly rising above $62,000. The relief rally came after the King Crypto dipped below $60,000 on Monday on fears of Mt.Gox's repayment plans. Buying pressure was back for Ethereum, seemingly boosted by SEC chair Gary Gensler's comments about the review of spot ETFs going "smoothly."As many as 32,307 traders were liquidated in the last 24 hours, with total liquidations at $87.59 million. Short liquidations accounted for 64% of the total.The rally fueled a 0.19% jump in Bitcoin's Open Interest in the last 24 hours, a sign that fresh money has come into the market.The number of traders taking bearish bets on Bitcoin rose vis à vis those bullish on the asset in the last 24 hours. The market attitude recovered sharply to the optimistic side. The Cryptocurrency Fear & Greed Index increased from 30 to 46, yet the overall sentiment remained one of “Fear.” Top Gainer (24-Hours)CryptocurrencyGains +/-Price (Recorded at 8:30 p.m. EDT)Stacks (STX)+12.82%$1.79Brett (BRETT)+12.41%$0.1651dgwifhat (WIF)+12.29%$2.05The global cryptocurrency market cap stands at $2.28 trillion, following an increase of 2.06% in the last 24 hours.The stock market rebounded strongly Tuesday after days of negative action. The S&P 500 gained 21.43 points, or 0.39%, to close at 5,469.30. The tech-heavy Nasdaq 100 surged 1.26% to end at 17,717.65. The Dow Jones Industrial Average closed 0.76% lower at 39,112.16.The uptick was spurred by a 6.7% jump in shares of AI giant NVIDIA Corp. NVDA, the major catalyst driving the markets lately. Its decline on Monday pulled the broader market index and tech stocks down.Investors' next focus will be May's personal expenditure data, considered the Federal Reserve's preferred inflation gauge, due for release on Friday.See More: Best Cryptocurrency ScannersAnalyst Notes: Widely followed analyst Ali Martinez reiterated that the current market situation is "the perfect time" to buy Bitcoin's dip. His assertions were based on the study of Relative Strength Indicator (RSI), which is in the oversold territory. Previous such instances in history preceded huge upswings for the King Crypto. Popular cryptocurrency trader Rekt Capital highlighted Bitcoin's continued consolidation in the "post-halving re-accumulation range." The range high resistance is around $71,500, while the range lows is at $60,600, the traders stated. Photo by SvetlanaParnikova on ShutterstockRead Next: Ethereum Will Go To $6,000 Following The ETF Launch, Trader AssertsMarket News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Bitcoin, Ethereum, Dogecoin Rebound From Monday's Fall  — How Long Before King Crypto Hits Current Range Highs Of $71.5K?

Bitcoin, Ethereum, and Dogecoin Rebound After Monday's Drop — Will Bitcoin Hit $71,500?

### The Quest for Lost Bitcoin

**James Howells**, a software engineer from Wales, is making headlines for his extraordinary journey to reclaim **8,000 Bitcoins** (BTC), currently valued at over **$514 million**. In a desperate attempt to recover his fortune, he has filed a lawsuit against the **Newport City Council**, seeking approximately **£495.31 million** (around **$647 million**) in damages for denying his requests to excavate a landfill where he accidentally discarded the hard drive containing the precious cryptocurrency.

### Background of the Case

Howells' plight dates back to **2013**, when he mistakenly threw away a hard drive while cleaning his office. This hard drive, unbeknownst to him at the time, held a significant Bitcoin fortune. His lawsuit is not merely for financial compensation; rather, it serves as a strategic move to persuade the council to allow the excavation of the landfill.

### The Excavation Plan

In his lawsuit, Howells has proposed to cover the excavation costs himself and has even offered the council **10%** of the value of any recovered Bitcoins. His team of specialists is prepared to conduct the excavation without any financial burden to the council.

### Council's Response and Environmental Concerns

The Newport City Council has branded Howells' lawsuit as **“weak”**, expressing worries about the potential **environmental impact** of the excavation process. A hearing for the case is scheduled for **December**.

### Current Bitcoin Valuation

As of now, the **8,000 BTC** is valued at **$514.37 million**, based on a market price of **$64,296.34** per unit. This valuation is based on the peak prices from earlier this year, reflecting the volatile nature of cryptocurrency markets.

![Bitcoin](https://example.com/image.jpg)

### Why This Matters

The case has garnered significant attention as it highlights not only the personal stakes for Howells but also the broader implications of cryptocurrency ownership and recovery. It raises questions about responsibility, loss, and the lengths to which individuals will go to reclaim their assets in the digital age.

**Disclaimer:** This content was produced with the help of Benzinga Neuro and reviewed by Benzinga editors.

James Howells, etched in the history books for accidentally discarding Bitcoin (CRYPTO: BTC), which is worth more than half a billion doll

Lost Bitcoin Treasure: Man Sues City Council for Excavation of $514 Million Hard Drive

![BOME Price Surge](https://crypto.news/app/uploads/2024/01/crypto-news-trading-chart-front-side-view-Exchange-building-background-bright-neon-colors-option08.webp)

BOME, the **third-largest meme coin**, experienced a **remarkable surge** on **October 14**, climbing over **25%** to **$0.008841**—its highest price in two months. This increase coincided with **Bitcoin's recovery** to levels not seen since the start of the previous week.

### Market Performance

According to **crypto.news** data, BOME's recent rally has propelled its market cap to **$610 million**, making it the **131st-largest digital asset**. The **daily trading volume** surged by **195%**, reaching approximately **$928 million**, with significant activity occurring on **Binance**, followed by **Gate.io** and **Bitget**.

### Futures Open Interest

**Futures open interest** for BOME also saw a significant rise, hitting a record **$131.12 million**, more than doubling from last week’s low of **$57 million**. This surge in open interest reflects growing investor interest and confidence in the meme coin.

### Broader Market Trends

This **price rally** aligns with a broader upswing in the cryptocurrency market, where **Bitcoin** and other altcoins have also seen substantial gains. The **global crypto market** increased by **2.6%**, from **$2.27 trillion to $2.33 trillion**. This momentum led to **$167.2 million in liquidations**, predominantly affecting short traders, indicating many were caught off guard by the market's **bullish momentum**.

### Community Sentiment

Community sentiment around BOME remains **bullish**, with **71%** of **3,792 traders** on **CoinMarketCap** anticipating further price increases. Analysts and traders on **X** are also predicting strong upward momentum for altcoins.

### Technical Analysis

Trader **Bluntz** noted that BOME has broken through a significant resistance level of **$0.0085**, which it struggled with since **August 24**. He predicts that this will lead to further upward movement. Another trader pointed out that BOME has exited a **falling wedge** formation on the **1-day chart**, a bullish sign suggesting potential price increases of **80%-120%** above current levels.

### Meme Coin Market Surge

BOME's rally is part of a broader surge in the **meme coin market**, which has seen a **1.4%** increase in the last 24 hours, bringing the total market cap of all meme tokens above **$57.6 billion**. Analyst **Moustache** recently predicted that the **altcoin market** is entering an "**up-only season**," based on the **Altcoin Season Index**, which is developing a **bullish Inverse Head and Shoulders pattern**.

This pattern often precedes a major **breakout**, indicating that altcoins may soon experience a sustained rally, reversing years of stagnation and downward pressure.

BOME, the third-largest meme coin, rose sharply on Oct. 14 as Bitcoin recovered back to levels seen at the beginning of last week

BOME Skyrockets: Is the Altcoin Market Entering an 'Up-Only Season'?

### Overview of Market Trends
The **US dollar** has been consolidating following the recent **CPI** and **PPI** data releases. Meanwhile, the **gold market** has experienced a significant surge, indicating shifts in investor sentiment.

### Bitcoin and Gold Analysis
Both **Bitcoin** and **gold** are closely watched commodities in the current economic climate. The recent movements in gold prices suggest a potential **flight to safety** by investors, while Bitcoin's behavior may reflect broader market trends and investor confidence.

### Key Levels to Watch
Identifying **key levels** in price charts is crucial for traders:
- **Resistance Levels**: Observing where prices tend to reverse can help in making informed decisions.
- **Support Levels**: These are critical for understanding where prices may stabilize.

### Conclusion
As the economic landscape evolves, keeping an eye on these **technical indicators** will be essential for navigating the complexities of the cryptocurrency and precious metals markets.

The US dollar has been consolidating after the CPI and PPI data, while the gold market has surged higher.

Unraveling Bitcoin, Gold, and the US Dollar: Key Technical Insights

In a landmark case that could redefine cryptocurrency regulations in the UK, **Habibur Rahman**, a **37-year-old trader** from East Ham, London, has pleaded **not guilty** to charges concerning the operation of an **illegal cryptocurrency ATM** business and laundering approximately **$395,000** in criminal cash. This prosecution marks the first instance in the UK where an individual faces charges for operating unregistered crypto ATMs.

### Background of the Case
Rahman's legal troubles commenced in **April 2023** when **Kent Police** executed a search warrant at his mobile phone shop in **Chatham**. During the operation, law enforcement seized several cryptocurrency ATMs, including one prominently displayed in the store. The **Financial Conduct Authority (FCA)**, the UK’s financial regulatory body, requires all crypto ATM operators to be registered, a regulation Rahman allegedly ignored.

### Money Laundering Allegations
Following the seizure, Rahman was arrested and charged with running an unregulated business and illegally converting cash into cryptocurrency between **April and June 2022**. Prosecutors allege that he **laundered £300,000** (approximately **$395,000**) by converting it into cryptocurrency through these unregistered ATMs.

His initial court appearance was at **Medway Magistrates’ Court**, where he entered a plea of **not guilty** to all charges. The case has now been transferred to **Maidstone Crown Court**, with the next hearing scheduled for **November 7th**.

The FCA is actively cracking down on unregistered cryptocurrency operations, emphasizing the risks involved. **Matthew Long**, the FCA’s director of payments and digital assets, warned the public that using unregistered crypto ATMs could expose them to **criminal activity** and potential **financial losses**. He stated, “If you are using one of these machines, you could be handing your money to criminals.”

This case follows another significant enforcement action by the FCA against **Olumide Osunkoya**, who pleaded guilty to operating an illegal network of crypto ATMs that processed over **$3 million** in transactions. Osunkoya’s conviction was the first successful prosecution related to illegal crypto ATM operations in the UK.

### Regulatory Scrutiny on Cryptocurrency
The FCA’s scrutiny of the cryptocurrency sector reflects a broader initiative to enhance regulatory oversight and protect consumers from the risks associated with cryptocurrencies. The outcome of Rahman’s case could have far-reaching implications for the future regulation of **crypto ATMs** and other cryptocurrency-related businesses in the UK.

As the cryptocurrency landscape evolves, the FCA is expected to maintain a vigilant approach to ensure that the sector operates within a robust regulatory framework, safeguarding consumers and preserving the integrity of the financial system.

### Rising Crypto Fraud
The cryptocurrency industry continues to attract fraud and scammers. The **FBI’s 2023 IC3 Cryptocurrency Report** reveals over **69,000 cryptocurrency-related complaints**, with losses exceeding **$5.6 billion**, a **45% increase** from 2022. Investment frauds accounted for **71%** of all losses, while other scams include tech support, extortion, and government impersonation. Criminals exploit the **decentralized** and **irreversible** nature of cryptocurrencies for fraud and money laundering.

![Crypto Fraud Statistics](https://bravenewcoin.com/wp-content/uploads/2024/10/Screenshot-2024-10-14-at-12.02.46-PM-999x1024.png)

The report emphasizes the importance of rapid complaint reporting and provides tips for avoiding scams, particularly for older victims who reported the highest losses from investment fraud. For more information, you can read the full [FBI report here](https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3CryptocurrencyReport.pdf).

In a case that could set a precedent in the United Kingdom, a 37-year-old trader has pleaded not guilty to charges related to operating an illegal cryptocurrency ATM business

UK's First Illegal Crypto ATM Case: Trader's Not Guilty Plea Sparks Controversy

Following a **strong start to 2024**, Bitcoin's price performance has been **disappointing**, failing to leverage the momentum from spot exchange-traded funds (ETFs). Despite these fluctuations, Bitcoin's price movements remain a hot topic in the crypto community.

### Is The Crash In Bitcoin Google Searches Bullish Or Bearish?
Recent data from **Google Trends** indicates that searches for the Bitcoin keyword have **plummeted** to a new low in 2024. This decline raises questions among investors about its implications for BTC's price.

![Bitcoin](https://pbs.twimg.com/media/GZr6PsYaAAMCpTY?format=jpg&name=medium)

Typically, an **increase in Bitcoin searches** suggests heightened interest among retail investors. The current drop indicates a potential exit of retail investors from the market. CryptoQuant CEO Ki Young Ju noted that this drop could signal a **bullish trend**, suggesting there is still room for price growth as retail investors may soon re-enter the market. Historically, the crypto market often moves **opposite to crowd sentiment**, suggesting that lower search interest could lead to **bullish price movements** ahead.

As of now, Bitcoin's price is around **$63,230**, marking a **1.4% increase** in the last 24 hours and over **2% increase** in the past week.

### Memecoin Search Volume To Reach New High In October?
In contrast, **meme coins** are gaining significant attention, with predictions that their search volume will hit an **all-time high** in October 2024. This growing interest reflects a shift in focus within the crypto community, as meme coins like **DOGE, SHIB, and PEPE** have surged into the top 100 cryptocurrencies by market capitalization.

![Bitcoin Chart](https://www.tradingview.com/x/wXIymD5D/)

*The price of BTC on a daily timeframe | Source: BTCUSDT chart on TradingView*

Following a strong start to 2024, the Bitcoin price performance has been mostly disappointing all year, failing to capitalize on the strong momentum of the

Bitcoin's Google Search Volume Hits 2024 Low: What Does It Mean for Prices?

### Concerns Over Cryptocurrency Regulation in Utah

On Friday, **Utah's Republican senator Mike Lee** addressed critical issues that could threaten the burgeoning **cryptocurrency industry**. At the **Permissionless III crypto conference** in Salt Lake City, he identified three major risks:

1. **Central Bank Digital Currency (CBDC)**
2. **Inconsistent state regulations**
3. **Overreaching federal regulations**

Lee and fellow congressman **John Curtis** expressed strong opposition to both federal and state regulations, which they argue could lead to **financial surveillance** that hampers the growth of the crypto sector. Curtis emphasized, "Instead of coming after you, we should be your protectors," highlighting the government's role in supporting innovation rather than stifling it.

### Cryptocurrency: Medium of Exchange

Senator Lee firmly defended the classification of cryptocurrency as a **medium of exchange**, disputing its categorization as a **security**—a point of contention with the **U.S. Securities and Exchange Commission (SEC)**, which has filed lawsuits against various crypto entities for non-compliance. He stated, “**Cryptocurrency is not a security. Cryptocurrency is not a commodity.**” He also argued against taxing capital gains on crypto transfers, advocating for a more favorable regulatory environment.

### The Threat of CBDCs

During his speech, Lee criticized **central bank digital currencies** (CBDCs), which many governments are exploring to enhance payment systems and reduce volatility associated with traditional cryptocurrencies. While initiatives like China's CBDC are already in progress, the **U.S. Federal Reserve** is still evaluating the potential for a domestic CBDC, with many in the crypto industry viewing it as a **threat to financial freedom**.

Utah congressmen Mike Lee and John Curtis warned of threats posed by federal and state overregulation of crypto.

Utah Lawmakers Sound Alarm on Crypto Regulation: What You Need to Know

![Ziglo crypto trading app](https://fxnewsgroup.com/wp-content/uploads/2024/10/Ziglo-crypto-trading-app-978x400.jpg)

London-based **Ziglu**, a crypto and fiat trading service, is making headlines with its recent acquisition of **Damex**, a Gibraltar/Spain-based crypto payments company. This strategic move is set to broaden their services significantly.

### Key Developments

According to **Sky News**, Ziglu is expected to announce the acquisition soon, which will merge their customer bases to nearly **200,000 clients**. Ziglu has ambitious plans to introduce **UK and US stock trading** to its European customers in the upcoming months.

To facilitate this expansion into stock trading, Ziglu will need to obtain additional licenses:
- **Full FCA Brokerage License** for trading shares in the UK.
- Separate licensing from EU’s national regulators for offering shares/CFDs trading to EU clients.

Ziglu is already regulated by the **Financial Conduct Authority (FCA)** in the UK for electronic money issuance and related payment services, in addition to being registered as a cryptoasset firm for anti-money laundering supervision. 

This acquisition marks a significant step in Ziglu's evolution, potentially reshaping the landscape of crypto and stock trading in Europe.

Ziglu is said to be planning to offer UK and US stock trading to European-based customers in the coming months.

Bitcoin, Ethereum, and Dogecoin Rebound After Monday's Drop — Will Bitcoin Hit $71,500?

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Other Latest News

Lost Bitcoin Treasure: Man Sues City Council for Excavation of $514 Million Hard Drive

BOME Skyrockets: Is the Altcoin Market Entering an 'Up-Only Season'?

Unraveling Bitcoin, Gold, and the US Dollar: Key Technical Insights

UK's First Illegal Crypto ATM Case: Trader's Not Guilty Plea Sparks Controversy

Bitcoin's Google Search Volume Hits 2024 Low: What Does It Mean for Prices?

Utah Lawmakers Sound Alarm on Crypto Regulation: What You Need to Know

Ziglu Expands Horizons: Acquiring Damex to Launch Stock Trading for Crypto Clients

Other Latest News

Lost Bitcoin Treasure: Man Sues City Council for Excavation of $514 Million Hard Drive

BOME Skyrockets: Is the Altcoin Market Entering an 'Up-Only Season'?

Unraveling Bitcoin, Gold, and the US Dollar: Key Technical Insights

UK's First Illegal Crypto ATM Case: Trader's Not Guilty Plea Sparks Controversy

Bitcoin's Google Search Volume Hits 2024 Low: What Does It Mean for Prices?

Utah Lawmakers Sound Alarm on Crypto Regulation: What You Need to Know

Ziglu Expands Horizons: Acquiring Damex to Launch Stock Trading for Crypto Clients