Bitcoin is feeling the pull of the gravity today.

The world's largest cryptocurrency rose to new record highs yesterday, rallying to $7,848.31 on CoinDesk's Bitcoin Price Index (BPI) before falling to a low of $7,058 today. As of writing, the bitcoin-US dollar (BTC/USD) exchange rate is trading at $7,253.50.

BTC began losing altitude soon after the markets were alerted that a controversial software update, known as Segwit2x, had officially been suspended. The software, which would have required a fork of the blockchain, had attracted a lot of attention in the media, and rightly so, as it could have led to chain split and the creation of free assets for BTC holders.