I don't believe that's actually the case. First the market was said to be going down due to South Korea, then due to China's new regulations, after that the SEC was causing the market to go down, and then MtGox, and then G20 and Google. It's just the result of people paying too much attention to what the news sources want you to believe. Bitcoin may just have bottomed out, where traders gained back enough confidence to enter the market again.

Currently two things matter for me;

1- Is the short term demand strong enough to push the market over the $10,000 level again? I would say likely.
2- Is the short term demand strong enough to maintain $10,000 for a longer period of time without diving under that level again? Not likely.

I am still of believe that in order to break through this uninspired market, a bullish trigger is definitely needed. As long this bullish trigger isn't there, the chances for a real breakout to happen are very low. In a market as speculative and hype driven as the one from Bitcoin, it doesn't take long before traders get bored and start unloading coins again.