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Bitcoin (BTC) bulls are currently navigating a precarious market landscape, with potential retracement risks looming around the $90,000 mark. Despite a brief rally that saw Bitcoin (BTC) reclaim the $100,000 threshold after U.S. President Donald Trump momentarily halted tariffs on Canada and Mexico, subsequent geopolitical developments have exerted downward pressure on Bitcoin’s price.Impact of Global Trade Tensions on BitcoinThe market's brief relief was overturned as China announced retaliatory tariffs on U.S. products, including significant tariffs on coal, liquefied natural gas, and additional tariffs on crude oil and agricultural machinery. This development sent Bitcoin’s price spiraling down to $98,000, dampening the renewed bullish sentiment in the crypto market.Critical Bitcoin Price Levels to MonitorAs the market continues to react to the unfolding trade wars, several key price levels have come into focus:Immediate Support Levels: According to trader George in a recent post, the optimal trade entry (OTE) area lies between $93,000 and $95,000, contingent on the support levels holding firm.Fibonacci Retracement Levels: Analyst Mark Cullen has identified the 38.2% Fibonacci retracement level at $98,000 as a likely spot for a shallow retrace and continuation. He also noted a "bullish order block and the golden zone" around $95,000, which could be pivotal if Bitcoin aims to shake out late longs.Prospects for Bitcoin's Near FutureMichael van de Poppe, founder of MN Capital, suggested that Bitcoin might achieve new all-time highs in February if it maintains a price above $93,000, pointing to a typical market correction following a strong price bounce as a normal part of its trading cycle.Technical Analysis and Market SentimentThe Unspent Transaction Output (UTXO) Realized Price Distribution (URPD) offers insights into Bitcoin’s cost basis and potential support and resistance areas. Notable support levels to monitor include $97,500, $96,450, and $94,300, which align with significant transactional activities according to Glassnode data.Moreover, the immediate support just above $97,000 is critical, as highlighted by the Bitcoin liquidation heatmap from CoinGlass, which shows a building wall of bid liquidity at this level, indicating that a retest of this support and a liquidity grab could be increasingly likely in the short term.As the market braces for potential further volatility, the key levels outlined by experts provide a roadmap for traders navigating the uncertain waters of Bitcoin trading amidst geopolitical tensions. The ongoing situation underscores the influence of global economic factors on cryptocurrency markets and the need for investors to stay informed and agile.