$BTC Bitcoin dipped from a recent peak near $98 K and is heading toward the $94 K area for three main reasons:

1. Short‑term profit‑taking

After rallying above $97 K, traders locked in gains. That selling pressure pushed the 4‑hour candlesticks lower and drove the price down toward the next round resting point around $94 K.

2. Technical support zone

On the 4‑hour chart, the $94 K–$95 K area coincides with prior consolidation (marked by your red arrow). In technical analysis, such zones often act as magnets for price, as buyers step in at what they view as a “discount” after a pullback.

3. Momentum indicators turning bearish

The Stochastic RSI at the bottom of your chart has rolled over from over‑bought territory, suggesting that bullish momentum is waning and opening the door for a deeper retracement.

In short, a mix of traders taking profits, a known support zone around $94 K, and fading upward momentum are combining to drive BTC toward that level today.