As the world continues to grapple with the ongoing COVID-19 pandemic, another major concern has emerged in the form of a global trade war. This has caused a ripple effect in the financial markets, with many investors and analysts keeping a close eye on the potential impact on various assets, including Bitcoin.

According to experts, the current trade war tensions could potentially put pressure on Bitcoin’s price, causing it to drop below the key support level of $93,000 in the short term. This news comes as no surprise to those who have been closely following the cryptocurrency market, as Bitcoin has been experiencing a period of volatility in recent weeks.

The trade war concerns stem from the ongoing tensions between the United States and China, two of the world’s largest economies. The two countries have been engaged in a trade dispute for several years, with both sides imposing tariffs on each other’s goods. This has led to a decrease in global trade and has had a significant impact on the global economy.

As a result, investors are turning to safe-haven assets like Bitcoin to protect their wealth from the potential fallout of a trade war. However, with the cryptocurrency market being highly volatile, there is no guarantee that Bitcoin will continue to hold its value in the face of these tensions.

Some analysts believe that if the trade war escalates further, it could lead to a significant drop in Bitcoin’s price. This is due to the fact that many investors may choose to sell their Bitcoin holdings in order to mitigate their losses in other areas of their portfolio.

In conclusion, while Bitcoin has been on a positive trajectory in recent months, the current global trade war concerns may put pressure on its price in the short term. As always, it is important for investors to closely monitor the market and make informed decisions based on their risk tolerance and long-term investment goals.