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Cryptos: Bitcoin slide halts as market attempts to form a short-term bottom

The bitcoin massacre took a pause Tuesday, with the best-known digital currency trading higher.

In Tuesday trading, a single bitcoin BTCUSD, +0.33% was last changing hands at $3,759.63, up 2.2% since Monday’s level at 5 p.m. Eastern Time on the Kraken crypto exchange.

Read:Bitcoin is on track to do something it hasn’t done in 4 years

After a dire stretch for bitcoin, one chart observer said signs point to a potential bottom around current levels. “After dropping in excess of 40% in the last two weeks, with very little news to drive the move, bitcoin is trying to build a base around the $3,500 – $3,700 level in the last three days,” wrote Nick Cawley, markets analyst at Daily FX.

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