Bitcoin hits fresh record highs on SegWit2x cancellation news

Dhwani Mehta FXStreet

Bitcoin prolonged its upward trajectory and printed yet another record high just shy of $ 8000 mark, up nearly 11% on the day. The move was backed by reports of a Segregated Witness (SegWit2x) upgrade being canceled.

SegWit2x is a technology upgrade that was scheduled later this week, threatened to disrupt the biggest cryptocurrency.

As Bloomberg reports, “SegWit2x’s goal was to double Bitcoin’s block size to two megabytes, which in practice increases speed and reduces fees. While most miners and many businesses supported the change, many of Bitcoin’s core developers opposed it.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD eyes 0.7000 as China GDP surprise powers rally

The Australian Dollar registers two days of consecutive gains versus the US Dollar, trading at 0.6980, up more than 0.50% as risk appetite improved, while the Aussie was supported by strong data on China’s GDP and Retail Sales.

USD/JPY struggles near 158.00 amid hawkish BoJ, subdued USD

USD/JPY remains defensive near 158.00 in the Asian session on Monday, as the US Dollar remains depressed near a two-week low amid the recent decline in US bond yields. Furthermore, looming intervention risks underpin the Japanese Yen and weigh on the pair amid BoJ Governor Kazuo Ueda's hawkish remarks. However, Fed rate-hike bets and geopolitical uncertainties could limit USD losses and the major.

Gold tumbles below $4,150 amid elevated US Treasury yields

Gold price falls to around $4,135 during the early Asian session on Tuesday. The precious metal extends its downside as US bond yields stayed elevated despite falling energy prices. Traders continue to assess the outlook for US interest rates ahead of next week’s Federal Reserve policy meeting.

Multicoin’s top holding is Hyperliquid as HPC pushes SEC on airdrop rules

Multicoin Capital has identified Hyperliquid as the largest holding in its hedge fund, reaffirming its commitment to crypto investments despite growing interest in artificial intelligence.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold is struggling to capitalize on a weaker US Dollar, after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.