Bitcoin fell back below $4,000

Bitcoin's rally is pausing, with the digital currency back below $4,000 in early trade on Monday.

Bitcoin surged against the dollar last week, breaking through $4,000 for the first time two Sunday's ago before peaking at $4,479.

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 $3,987.27 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. bitcoin 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 $681.53 at 7.55 a.m. BST (2.55 a.m. ET).