Bitcoin's price has retreated below $113,000, reflecting a weakening momentum across the cryptocurrency market. This decline comes after Bitcoin's unsuccessful attempt to breach the $118,000 mark, raising concerns about the strength of the current trend. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest diminished upward pressure. Additionally, derivatives activity and on-chain metrics indicate a shift towards defensive positioning among traders. Major altcoins have also experienced declines, highlighting a broader sense of risk fatigue in the market. Analysts suggest that a sustained break above recent resistance levels or a bullish MACD crossover could indicate a potential upside, but the market currently appears to be in a phase of consolidation.