Bitcoin (BTC) is showing signs of recovery after a significant dip, circling around $57,000 as of July 7. The cryptocurrency had previously dropped to a low of $53,500, the lowest since February. However, Bitcoin managed to rebound, with popular trader Rekt Capital noting that Bitcoin's recent daily close above $56,750 is a positive sign. Despite missing a pivotal price point at its most recent daily close, which came in at $58,250, there is optimism for further upside. Other analysts also noted bullish divergence in Bitcoin's relative strength index (RSI) readings, suggesting potential for a longer-term price floor.