In terms when there is newly phase of global tensions such as pandemic or war, there is usually that nature of the economic that affects Bitcoin price negatively.
The uncertainty of when the chaos would stop ignites investors fear to Invest on Bitcoin instead, they think more of how to survive in the period. Then feels discouraged of Investing in the meantime because, the "then" (current) time of survival is usually an ultimate concern.

But when the tension has persisted for a long time, there be no choice than the people getting their emotions fitted admits and then, the economic system begins to regain it values on a gradual process and then propagates investors sentiments to consider buying Bitcoins.
And so on Bitcoin price which may have been experiencing bearishness will as well gain potential momentums for price increase aftermath.

Let us not forget too quickly that the economic conditions do also have influence on Bitcoin because when source of generating Incomes for investors does not arise, it will be difficult to buy Bitcoins and the stock is more of the sources that generates Investors incomes.