Market Wrap: Bitcoin Bears Retreat as Traders Buy on Dips

Market Wrap: Bitcoin Bears Retreat as Traders Buy on Dips
Bitcoin was in recovery mode on Monday as bearish sentiment waned. The cryptocurrency was up about 6% over the past 24 hours compared with a 7% gain in ether over the same period. Generally, some traders are looking to buy on price dips given seasonal strength into year’s end.“If indeed [the sell-off] is over, such a pullback could clear the way for growth to new highs, as bulls were allowed to lock in profits and shortly after to buy the dip,” Alex Kuptsikevich, an analyst at FxPro, wrote in an email to CoinDesk.“On the other hand, BTC remains below its…