BTC may retest $85K if it fails to secure $94K, analyst says

Bitcoin has entered a short-term resistance zone between $92,000 and $94,000, but key on-chain indicators still suggest strong selling pressure, according to an analysis by CryptoOnchain, a contributor to CryptoQuant. The analyst noted that while technical indicators like the Relative Strength Index (RSI) currently favor buyers, a total of $4.75 billion in BTC and ETH has flowed into Binance over the past week. This suggests that whale investors may be preparing to sell or enter short positions at this resistance level. The analysis concludes that if Bitcoin fails to achieve a daily close above $94,000, it could trigger large-scale liquidations and a retest of the $85,000 support line.