Bitcoin dips below $11,000 after setting another record high

By 1310 GMT on Monday, bitcoin had slipped back to around $10,919, down 2 percent on the day

Bitcoin dipped back under $11,000 on Monday, coming off a record high just shy of $11,800 it hit on Sunday after a surge from less than $1,000 at the start of the year.

The cryptocurrency, which trades 24 hours a day and seven days a week, climbed as high as $11,799.99 on the Luxembourg-based Bitstamp exchange at around 2100 GMT on Sunday.

It was not clear what caused the move higher over the weekend other than new investors joining the upstart market, with so-called wallet-providers reporting record numbers of sign-ups over the past week.

Analysts said Friday's announcement by the main US.

derivatives regulator