the "whole market" is seeing some recovery because bitcoin price went up a little. but the rise bitcoin has is not exactly a recovery. it is a small and simple price rise which is not recovery until price reaches its true value which is higher than this.
the reason? is simply because you can't keep dumping the price for ever. at some point no matter how whale-y you are you will run out of money to buy cheap coins.
I am not sure on exact reason for increase in the price of bitcoin but it is the good news for all the investors and who believe in bitcoin. It is though the increase value is very less but it gives confidence to crypto market and i think the whales are now in the position to not hold the increase in value of btc that is one of the reason i think and also opponent of bitcoin is tired on making the value down.
Even though it's a bit of an increase but everyone will be happy and trust Bitcoin again, that bitcoin was able to bounce back, after many communities said there was something out of bitcoin for fear of prices below 3k, but that didn't happen.