Bitcoin has recently surged back above the $62,000 mark, signalling a potential reversal from recent lows. Analysts suggest that the worst of the selling pressure may be over, following the conclusion of Germany's forced selling of BTC and the nearing completion of Mt. Gox creditor repayments. The cryptocurrency rallied 5.2% in the last 24 hours, rebounding from lows near $53,500 earlier in July. Experts like Ben Simpson from Collective Shift believe Bitcoin has formed a local bottom and could be poised for an uptrend. Factors such as potential rate cuts by the Fed and strong inflows into Bitcoin ETFs are seen as bullish catalysts for its price in the coming months.