$BTC Bitcoin has decreased from its recent peak near $98 K and is heading towards the $94 K area for three main reasons:

1. Short-term profit-taking

After soaring above $97 K, traders locked in profits. This selling pressure pushed the 4-hour candlestick lower and reduced the price towards the next support point around $94 K.

2. Technical support zone

On the 4-hour chart, the $94 K–$95 K area coincides with previous consolidation (marked by your red arrows). In technical analysis, such zones often act as magnets for price, as buyers enter what they perceive as a “discount” after a pullback.

3. Bearish momentum indicators

The Stochastic RSI at the bottom of your chart has reversed from the over-bought territory, indicating that bullish momentum is fading and opening the door for a deeper pullback.