Bitcoin at 113K: Bearish Stance and Cautious Stance

I’m skeptical about BTC around $113,000 and I don’t see a reason to rush in. The current pullbacks feel severe, and the downside noise is bad enough to question new long positions.

From my view, the upside risk seems constrained by macro headwinds and potential volatility, while near-term catalysts are not clearly compelling. Given the price level, risk management and capital preservation matter more than chasing a move based on optimism.

Until there’s clearer price action, a break of key support or a favorable risk/reward setup, I’d rather wait and reassess than enter at these levels.