I think that it is recovering even only a little bit. Not a total recovery. We can see some slight increase from the price of Bitcoin in the past weeks. I don't think there is some specific reason why it is slightly increasing. I think it is because of its pump and dump cycle.
I think it's impossible to predict if the market downtrend is reversing or it is simply some Bitcoin bounce but the situation of most altcoins is very bad, so I would say it's possible it's the bottom and the start of a recovery but it could also go further down with BTC under $6K and altcoins bleeding so bad that every altcoin holders will cry a lot. I am bullish myself but I would advise people to hold at least 50% BTC to avoid loosing too much if this is just a bounce.