Bitcoin’s price dropped below the 94,000 USD mark due to market uncertainty about the ongoing bull trend, indicating potential for a fall to 74,000 USD. Initial gains above 102,000 USD were quickly reversed, and the US jobs report further accelerated this decline, leading to a rapid sell-off and deep price drop.

Analyst Ali Martinez highlighted that Bitcoin must stay above 92,000 USD to avoid risks of a downturn to 74,000 USD. With 1.5 million BTC acquired by 1.8 million addresses between 95,400 USD and 98,400 USD, breaching this support level could lead to significant losses in the near term.