Bitcoin to $94K? - Analyst flags risk of BTC price dip: Heres why

Despite a mild rebound to $102K, BTCs short-term outlook remains under threat, with analysts now eyeing a potential drop to $94K.

Bitcoin is losing momentum

According to CryptoQuant analyst Burak Kesmeci, Bitcoin has lost its bullish rhythm.

On the daily chart, BTC was trading below the FVRP intense swap zone at $95K, suggesting a loss of consensus value.

Naturally, such a break coinciding with heavy spot resistance—like the SMA50 near $105K—makes upward continuation unlikely in the near term.

Two rejections, one outcome

Source: TradingView

Were deep in leveraged territory

On top of that, Open Interest and Price Change data from Checkonchain placed BTC in a clear leveraged sell-off zone.

Bitcoin NVT Ratio flashes red

The on-chain story further supports a bearish case.

At the time of writing, Bitcoins NVT Ratio surged to 60.9, suggesting the price is increasing without equivalent transactional volume.

In other words, the recent bounce lacks organic support. When NVT Ratios spike like this, it often indicates unsustainable price action—a warning of incoming retracement.