All three major indexes (^DJI, ^GSPC, ^IXIC) **closed lower** on Tuesday. Yahoo Finance markets and data editor **Jared Blikre** joins **Josh Lipton** on *Asking for a Trend* to break down his key takeaways from the trading day.

### Financial Sector Leads the Market
The **financial sector** (XLF) leads the market so far this month compared to all other S&P 500 sectors as **Big Banks** report third quarter earnings.

### Oil Prices Diverge from Expectations
**Oil prices** (CL=F, BZ=F) are diverging from inflation expectations amid **macroeconomic uncertainty**.

### Bitcoin's Potential Breakout
**Bitcoin** (BTC-USD) shows signs of **breaking out** as it hovers around **$67,000**. This significant movement raises questions about its future trajectory in the current market context.

To watch more expert insights and analysis on the latest market action, check out more *Asking for a Trend* [here](https://finance.yahoo.com/videos/series/asking-for-a-trend/).  
*This post was written by Naomi Buchanan.*

All three major indexes (^DJI,^GSPC, ^IXIC) closed lower on Tuesday. Yahoo Finance markets and data editor Jared Blikre joins Josh Lipton on Asking for a Trend to break down his key takeaways from the trading day. The financial sector (XLF) leads the market so far this month compared to all other S&P 500 sectors as Big Banks report third quarter earnings. Oil prices (CL=F, BZ=F) diverge from inflation expectations amid macroeconomic uncertainty. Bitcoin (BTC-USD) shows signs of breaking out as it hovers around $67,000. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Naomi Buchanan.

Bitcoin's Price Surge: Key Market Insights from Recent Trading Trends

### Missouri's Cryptocurrency Fraud: A Shocking Report

In **2023**, an **annual FBI report** on cryptocurrency fraud revealed that it was the **busiest year** yet for this emerging technology. The report highlighted that over **69,000 complaints** were filed, resulting in a staggering **$5.6 billion** in losses reported to the FBI’s Internet Crime Complaint Center.

#### Missouri's Heavy Losses

Missouri alone suffered a loss of **$55,022,745** due to **838 scams**. The data shows that the **most common targets** of these scams were individuals over the age of **60**, with those aged **50-59** following closely behind.

#### Types of Cryptocurrency Fraud

Cryptocurrency fraud manifests in various forms, primarily:
- **Investment fraud**
- **Breaches of personal data**
- **Tech support fraud**
- **Confidence schemes**

#### Expert Recommendations

**J. Scott Christianson**, Director of the University of Missouri’s Center for Entrepreneurship and Innovation, warns consumers to be **suspicious** of payment demands that seem **urgent or time-sensitive**, especially if they involve **digital currency**. He emphasizes that no legitimate business or government entity will ask for such payments in this manner.

#### FBI's Advice to Avoid Scams

The **FBI** offers several tips to help consumers avoid falling victim to cryptocurrency scams:
- **Criminals thrive on urgency and isolation.**
- If you receive an unsolicited call from someone claiming to represent a well-known company, **hang up** and verify independently.
- No legitimate authority will demand payment through a cryptocurrency kiosk.
- Never disclose personal information without verifying the identity of the requester.
- Always validate investment opportunities offered by unknown contacts on social media, especially if you haven’t met them in person.
- Be cautious of websites that mimic legitimate financial institutions.
- Avoid downloading suspicious apps for investing unless their legitimacy is confirmed.
- If an investment opportunity seems **too good to be true**, it probably is.
- Remember that investment involves risk; seek advice from a licensed financial adviser if uncertain.

Stay informed and vigilant to protect yourself from potential scams in the evolving landscape of cryptocurrency.

An annual FBI report on cryptocurrency fraud found that 2023 was the busiest year yet for the growing technology.

Missouri's $55 Million Cryptocurrency Fraud Crisis: What You Need to Know

### Salvadorans and Bitcoin: A Disconnect

Salvadorans may appreciate **President Nayib Bukele** for his efforts in improving the country's security, but a **new survey** reveals that the enthusiasm for **Bitcoin** is not reflected in actual usage. 

According to a recent report from **San Salvador University Francisco Gavidia**, only **7.5%** of respondents use cryptocurrency for transactions, while a staggering **92%** do not. Despite **El Salvador** making Bitcoin legal tender in **2021**, many citizens remain hesitant to adopt the digital currency for everyday purchases.

### Bukele's Bitcoin Push

President Bukele, known for his aggressive promotion of Bitcoin, has faced criticism from both **U.S. politicians** and the **International Monetary Fund** for his policies. The survey indicated that merely **1.3%** of participants believe Bitcoin should be the country’s primary financial strategy moving forward. 

In an effort to attract foreign investment, Bukele has proposed initiatives such as **Bitcoin City** and has offered enticing incentives like visas for investors. However, public sentiment remains mixed, with **58%** of those surveyed believing the nation is on the right track and showing general support for Bukele’s leadership. 

### The Reality of Bitcoin Adoption

In a recent interview, Bukele himself acknowledged that the **adoption of Bitcoin** has not met expectations, stating, “**Bitcoin hasn’t had the widespread adoption we hoped for**.” 

El Salvador, once notorious for its violence, has seen a crackdown on crime under Bukele’s administration, which has garnered praise from citizens but raised concerns among human rights advocates regarding **prisoner treatment** and **police conduct**. 

Despite the president's popularity, the disconnect between his Bitcoin initiative and public usage reveals a significant challenge in his economic strategy.

A new University report shows that not many people are using the orange coin to buy things in El Salvador.

Disillusionment in El Salvador: Why Bitcoin Isn't Gaining Traction Despite Popular Support for Bukele

## Google’s Nuclear Initiative

Google is making headlines with its latest **partnership** with Kairos Power to construct **seven small nuclear reactors** in the U.S., marking a significant step in the tech giant's quest for sustainable energy sources to power its **AI initiatives**. This groundbreaking agreement is the **first of its kind**, and it underscores Google's commitment to a **carbon-free energy future**.

### Powering the Future

The initial reactor is projected to be operational by **2030**, with the remaining reactors expected to be deployed by **2035**. Collectively, these reactors will provide approximately **500 megawatts of power**, enough to energize a **midsize city**. As stated in a recent blog post by Google, "**Nuclear solutions offer a clean, round-the-clock power source** that can help us reliably meet electricity demands with carbon-free energy every hour of every day."

### Innovative Reactor Design

Unlike traditional nuclear power plants, the reactors developed by Kairos Power utilize a **molten salt cooling system**, which operates at lower pressures, promising enhanced safety and efficiency. The company has also initiated the construction of a **demonstration reactor** in Tennessee.

### Cost and Project Details

While Google has not disclosed the financial specifics of the partnership, the project aims to address the increasing **energy demands** posed by expanding data centers. Recent studies indicate a surge in power needs, with projections showing a potential growth of **38 gigawatts**, sufficient to power **12.7 million homes**.

### Broader Context

This announcement comes on the heels of Microsoft's collaboration with Constellation Energy, which plans to restart operations at the **Three Mile Island** reactor to support its AI data centers. These developments highlight a growing trend among tech companies to seek **nuclear energy** as a viable solution to their power requirements, amidst concerns about the strain on the U.S. power grid.

![Nuclear Power](https://example.com/nuclear-power-image.jpg)

They’ll be used to power its AI initiatives.

Google's Bold Move: Building Seven Nuclear Reactors for AI Power

### Tesla's Bitcoin Movement

**Tesla**, the electric car company led by **Elon Musk**, has made headlines by transferring nearly all of its **Bitcoin** holdings after a **two-year period of inactivity**. On Tuesday, wallets associated with Tesla moved approximately **$765 million** worth of Bitcoin to unknown wallets. Notably, only about **$6** remained in the original wallets. These new wallets are not linked to any known **crypto exchanges**, leading to speculation that Tesla is not planning to sell its Bitcoin.

### Background on Tesla's Bitcoin Holdings

In **2020**, Tesla revealed it had acquired **$1.5 billion** in Bitcoin but sold about **10%** of its holdings in Q1 2021. Subsequently, in **July 2022**, the company sold approximately **75%** of its remaining Bitcoin as the price had dropped significantly from its all-time high of **$69,000** in **November 2021**, to around **$24,000** at the time of the sale. However, the value of Tesla's remaining Bitcoin has surged, with the current price hovering around **$66,500**.

### Tesla's Mixed Relationship with Bitcoin

Tesla's relationship with Bitcoin has been complex. In **2021**, the company announced it would accept Bitcoin as payment for vehicles but quickly reversed this decision, citing the **environmental impact** of Bitcoin mining. Musk has expressed interest in resuming Bitcoin payments if a majority of mining operations switch to **green energy** sources, but that has yet to materialize.

### Conclusion

The movement of Tesla's Bitcoin raises questions about the company's future strategies regarding cryptocurrency, especially considering Musk's previous comments and the current market dynamics.

Tesla has moved the bulk of its Bitcoin to new wallets, though there's no immediate suggestion that Elon Musk's car company is selling.

Tesla Moves $765 Million in Bitcoin: What Does It Mean for the Future?

### The Bitcoin Landfill Lawsuit

A man from the UK named **James Howells** is making headlines by suing his local council for **$647 million** in an attempt to recover a hard drive containing **8,000 BTC**. This extraordinary legal battle stems from a tragic mistake made back in **2013**, when Howells' then-partner accidentally threw out the hard drive along with other garbage. At that time, Bitcoin was worth less than **£1 million**, but the value of those coins has skyrocketed since then.

### The Ongoing Fight for Recovery

Howells has been trying to persuade his local government to allow him to excavate the landfill for over **a decade**. Despite his repeated requests, the council has largely ignored him. Determined to find the hard drive, he has even organized an excavation team prepared to sift through **100 tons of garbage**.

### The Council's Position

Should the hard drive be recovered, Howells estimates an **80 percent chance** that the coins can be retrieved. To sweeten the deal, he has offered the council **10% of the recovered Bitcoin**, which amounts to about **$65 million**. However, the council has firmly rejected his proposal, citing **environmental concerns**. A council spokesperson stated that excavating the site is not possible under their environmental permit and would have a significant negative impact on the surrounding area.

### The Cost and Timeline of Excavation

The proposed excavation would cost **$13 million** and take between **18 to 36 months**, plus an additional year for restoration. Howells insists that the council would not incur any expenses, and he would still share a portion of the Bitcoin if successful. In interviews, Howells has expressed that the lawsuit is more about **leveraging** the council into agreeing to the excavation rather than a primary goal.

Despite his efforts, the council has shown little interest in engaging with his proposal, leaving Howells in a precarious position as he fights for what he believes is rightfully his.

The Bitcoin landfill lawsuit is only the latest in a tragic, decades-long story about a guy accidentally throwing out 8,000 BTC.

UK Man Sues Council for $647 Million Over Lost Bitcoin Hard Drive: A Shocking Legal Battle

# Bitcoin's Price Surge: Are the Stars Finally Aligned?

Bitcoin’s price has **surged to levels not seen since July**, driven by **positive inflows** and growing optimism regarding a potential bullish breakout. 

## Market Overview

Despite the recent ETF inflows, **actual demand for Bitcoin has been declining since March**, as reported by Glassnode. Technical analysis indicates that Bitcoin is encountering resistance at various levels, with support levels identified for potential price declines. 

### Recent Developments

- Bitcoin prices recently spiked following a week of **positive ETF inflows**, with **$555.9 million** in net inflows recorded on a single day, marking the highest since June. 
- ETF Store President Nate Geraci noted that this surge reflects a growing embrace of spot Bitcoin ETFs by **financial advisers and institutional investors**. 

![Daily Bitcoin ETF inflows](https://www.marketpulse.com/wp-content/uploads/2024/10/2024-10-15-18_13_03-US-spot-Bitcoin-ETFs-see-556M-inflows-in-biggest-day-since-June.png)
*Source: CoinGlass, Cointelegraph*

## Downside Risks – Profit Taking and Waning Demand

Despite the inflows, **actual demand has been diminishing**, and the **Binary CDD metric** indicates a lack of activity among long-term investors. 
- **Robert Kiyosaki**, a prominent Bitcoin advocate, has predicted a potential market crash, suggesting Bitcoin could plummet to **$5,000**, despite his tendency for bold claims. 

### Technical Analysis BTC/USD

Currently, Bitcoin is trading approximately **0.77% up**, having faced resistance at **$68,334** and aiming for the **$70,000** mark. Immediate support levels are at **$65,000**, with further supports at **$63,341** and **$61,378**. 

![Bitcoin (BTC/USD) Daily Chart](https://www.marketpulse.com/wp-content/uploads/2024/10/BTCUSD_2024-10-15_18-44-27.png)
*Source: TradingView.com*

**Support Levels:**
- **$65,000**
- **$63,341**
- **$61,378**

**Resistance Levels:**
- **$68,334**
- **$70,000**
- **$71,935**

Optimism is on the rise regarding Bitcoin’s potential for a breakout, but the **current demand levels** raise concerns for bulls as they navigate a range of **technical hurdles**.

Bitcoin's price surges amidst ETF inflows and bullish sentiment. Have the stars finally aligned or will the technical hurdles hold firm?

Is Bitcoin on the Brink of a Breakout? Unveiling the Latest Market Dynamics!

### Bitcoin's Cycle Under Threat

Recent market trends suggest that **Bitcoin (BTC)** is on the verge of breaking its established one-year cycle. Historically, Bitcoin has followed a predictable pattern, but current market behavior indicates a potential shift.

### Resistance Testing at $66,000

Bitcoin's price has been testing a significant resistance level, hovering around **$66,000**, which sits at the top of its long-term declining channel. This level has historically acted as a ceiling for Bitcoin, often preventing it from breaking through decisively. However, recent indicators hint at a possible change in this trend.

### Declining Spot Premiums

Notably, the **spot premiums** for Bitcoin are on the decline, a trend not observed since June. This could signal a major development for the digital asset, particularly in conjunction with the ongoing increase in the **global M2 money supply**, which is directly linked to Bitcoin's liquidity.

### Key Price Levels to Watch

- **Immediate Resistance:** $66,000
- **Critical Support:** $62,000  
- **Psychological Resistance:** $60,000  

A **bullish breakout** may occur if Bitcoin surpasses the $66,000 mark with significant volume. Conversely, a decline below $60,000 could lead to additional losses as traders reassess their positions.

### Increasing Market Liquidity

The narrative supporting a potential Bitcoin rally is strengthened by the **global liquidity index** reaching new highs. This suggests that market liquidity is adequate to support further price increases, potentially pushing Bitcoin towards new all-time highs. However, volatility is expected, making the next few weeks crucial for Bitcoin's price movement.

### Conclusion

While there is a possibility of breaking the one-year cycle, much will depend on how Bitcoin navigates these pivotal price points.

One-Year Bitcoin (BTC) Cycle on Verge of Being Broken

Bitcoin's Price Surge: Key Market Insights from Recent Trading Trends

Summary:

Financial Sector Leads the Market

Oil Prices Diverge from Expectations

Bitcoin's Potential Breakout

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Missouri's $55 Million Cryptocurrency Fraud Crisis: What You Need to Know

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Google's Bold Move: Building Seven Nuclear Reactors for AI Power

Tesla Moves $765 Million in Bitcoin: What Does It Mean for the Future?

UK Man Sues Council for $647 Million Over Lost Bitcoin Hard Drive: A Shocking Legal Battle

Is Bitcoin on the Brink of a Breakout? Unveiling the Latest Market Dynamics!

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Other Latest News

Missouri's $55 Million Cryptocurrency Fraud Crisis: What You Need to Know

Disillusionment in El Salvador: Why Bitcoin Isn't Gaining Traction Despite Popular Support for Bukele

Google's Bold Move: Building Seven Nuclear Reactors for AI Power

Tesla Moves $765 Million in Bitcoin: What Does It Mean for the Future?

UK Man Sues Council for $647 Million Over Lost Bitcoin Hard Drive: A Shocking Legal Battle

Is Bitcoin on the Brink of a Breakout? Unveiling the Latest Market Dynamics!

Is Bitcoin Breaking Its One-Year Cycle? Insights and Predictions