Why does he deny he's not in love with me but doesn't want to lose you?

He may deny being in love to protect himself or avoid the vulnerability that comes with deep feelings. At the same time, he likely values your connection and fears losing the comfort and companionship you provide. This contradiction can stem from wanting to maintain a safe emotional distance while still cherishing your presence in his life. Ultimately, it reflects a struggle between his feelings and his desire for security.