Bitcoin’s $94K Drop Tied to U.S.–China Gridlock and Geopolitical Hesitation

• Bitcoin falls below $95K as Trump cites crypto to counter China’s tech influence
• BTC trading volume surges 33% despite price dip, signaling short-term volatility
• Key support near $88K may trigger $100K–$110K breakout if it holds

The Bitcoin price dipped below $95,000 on Monday, feeling pressure from low trading volumes during Asian holidays and ongoing uncertainty surrounding U.S.-China trade talks. This BTC price today is more in line with that of a cautious market sentiment seen over the past week as traders wait for clearer economic direction.

Bitcoin traded at $94,604.74 at press time, marking a 1.46% daily decline. The price fell below $94,000 during the early hours of May 5 before recovering.

The Bitcoin price had briefly fallen below $94,000 earlier on May 5th before recovering slightly from a daily high near $95,990. Bitcoin’s market cap stood at $1.87 trillion, while surprisingly, 24-hour trading volume jumped 33.28% to $21.33 billion, suggesting the price drop spurred significant short-term trading activity. Circulating supply is currently 19.86 million BTC.

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