The price of Bitcoin briefly fell below $41,000 amid a broader decline in cryptocurrencies, as speculators reap some profits from the digital asset's rise this year.

The currency fell as much as 7.5% before paring some losses to trade 4% lower at $41,992 at 10:19 a.m. in Singapore on Monday.

A group of smaller cryptocurrencies, from Ethereum to Dogecoin, also recorded losses.