Bitcoin fell back below $4,000

Bitcoin’s rally is pausing, with the digital currency back below $US4,000 in early trade on Monday.

Bitcoin surged against the dollar last week, breaking through $US4,000 for the first time two Sunday’s ago before peaking at $US4,479.

However, after pausing for breath on Friday, traders have been booking profit over the weekend. As a result, bitcoin has been drifting lower against the dollar.

Bitcoin is down 1.7% against the dollar to $US3,987.27 at 7.50 a.m. BST (2.50 a.m. ET). Despite the dip, the cryptocurrency remains near historic highs, as the 3-month price chart below shows.

Elsewhere in the cryptocurrency world, Bitcoin Cash, a new digital currency split off from Bitcoin at the start of the month, is dipping against the dollar after posting big gains over the weekend. Bitcoin Cash is down 5.3% to $US681.53 at 7.55 a.m. BST (2.55 a.m. ET).

Ethereum, the second-biggest cryptocurrency after Bitcoin by market value, is up 5.1% against the dollar to $US323.96 at the same time.

Get the latest Bitcoin price here.

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