In this case the block trade was made to complete an an order OR simply a completion of many partial trades done during the day where the average price is printed. However since it is such a large trade it is more likely the former.
Could this be an indication of a bottom? definitely
You will likely see alot of volatility in the $5 - $10 price range imo. Some funds want to get rid of their losers and see just as good opp for cap gains and divs maybe elsewhere, without the bad karma associated with SFI.
Also lots of funds have restrictions barring the investment in low priced stocks in the $5 price range.