diff --git a/static/app/components/events/interfaces/performance/eventTraceView.spec.tsx b/static/app/components/events/interfaces/performance/eventTraceView.spec.tsx
index a01c8f1e53f503..a14134f75d6d75 100644
--- a/static/app/components/events/interfaces/performance/eventTraceView.spec.tsx
+++ b/static/app/components/events/interfaces/performance/eventTraceView.spec.tsx
@@ -22,7 +22,7 @@ window.ResizeObserver = ResizeObserver;
 describe('EventTraceView', () => {
   const traceId = 'this-is-a-good-trace-id';
   const {organization, project} = initializeData({
-    features: ['profiling', 'issue-details-always-show-trace'],
+    features: ['profiling'],
   });
   const group = GroupFixture();
   const event = EventFixture({
@@ -103,6 +103,32 @@ describe('EventTraceView', () => {
   });
 
   it('still renders trace link for performance issues', async () => {
+    const oneOtherIssueEvent: TraceEventResponse = {
+      data: [
+        {
+          // In issuePlatform, the message contains the title and the transaction
+          message: '/api/slow/ Slow DB Query SELECT "sentry_monitorcheckin"."monitor_id"',
+          timestamp: '2024-01-24T09:09:03+00:00',
+          'issue.id': 1000,
+          project: project.slug,
+          'project.name': project.name,
+          title: 'Slow DB Query',
+          id: 'abc',
+          transaction: 'n/a',
+          culprit: '/api/slow/',
+          'event.type': '',
+        },
+      ],
+      meta: {fields: {}, units: {}},
+    };
+    MockApiClient.addMockResponse({
+      url: `/organizations/${organization.slug}/events/`,
+      body: oneOtherIssueEvent,
+    });
+    MockApiClient.addMockResponse({
+      url: `/organizations/${organization.slug}/projects/`,
+      body: [],
+    });
     const perfGroup = GroupFixture({issueCategory: IssueCategory.PERFORMANCE});
     const perfEvent = EventFixture({
       occurrence: {
@@ -129,6 +155,9 @@ describe('EventTraceView', () => {
     expect(
       await screen.findByRole('link', {name: 'View Full Trace'})
     ).toBeInTheDocument();
+    expect(
+      screen.getByText('One other issue appears in the same trace.')
+    ).toBeInTheDocument();
   });
 
   it('does not render the trace preview if it has no transactions', async () => {
@@ -154,8 +183,5 @@ describe('EventTraceView', () => {
     render(<EventTraceView group={group} event={event} organization={organization} />);
 
     expect(await screen.findByText('Trace')).toBeInTheDocument();
-    expect(
-      await screen.findByRole('link', {name: 'View Full Trace'})
-    ).toBeInTheDocument();
   });
 });
diff --git a/static/app/components/events/interfaces/performance/eventTraceView.tsx b/static/app/components/events/interfaces/performance/eventTraceView.tsx
index f47817c661bb32..508a4ba2610c2b 100644
--- a/static/app/components/events/interfaces/performance/eventTraceView.tsx
+++ b/static/app/components/events/interfaces/performance/eventTraceView.tsx
@@ -1,7 +1,8 @@
-import {useMemo} from 'react';
+import {Fragment, useMemo} from 'react';
 import styled from '@emotion/styled';
 
 import {LinkButton} from 'sentry/components/button';
+import Link from 'sentry/components/links/link';
 import {generateTraceTarget} from 'sentry/components/quickTrace/utils';
 import {IconOpen} from 'sentry/icons';
 import {t} from 'sentry/locale';
@@ -9,11 +10,13 @@ import {space} from 'sentry/styles/space';
 import type {Event} from 'sentry/types/event';
 import {type Group, IssueCategory} from 'sentry/types/group';
 import type {Organization} from 'sentry/types/organization';
+import useRouteAnalyticsParams from 'sentry/utils/routeAnalytics/useRouteAnalyticsParams';
 import {useLocation} from 'sentry/utils/useLocation';
 import useOrganization from 'sentry/utils/useOrganization';
 import {SectionKey} from 'sentry/views/issueDetails/streamline/context';
 import {InterimSection} from 'sentry/views/issueDetails/streamline/interimSection';
-import {TraceDataSection} from 'sentry/views/issueDetails/traceDataSection';
+import {TraceIssueEvent} from 'sentry/views/issueDetails/traceTimeline/traceIssue';
+import {useTraceTimelineEvents} from 'sentry/views/issueDetails/traceTimeline/useTraceTimelineEvents';
 import {IssuesTraceWaterfall} from 'sentry/views/performance/newTraceDetails/issuesTraceWaterfall';
 import {useIssuesTraceTree} from 'sentry/views/performance/newTraceDetails/traceApi/useIssuesTraceTree';
 import {useTrace} from 'sentry/views/performance/newTraceDetails/traceApi/useTrace';
@@ -128,16 +131,47 @@ function IssuesTraceOverlay({event}: {event: Event}) {
 
   return (
     <IssuesTraceOverlayContainer>
-      <LinkButton
-        size="sm"
-        icon={<IconOpen />}
-        aria-label={t('Open Trace')}
-        to={traceTarget}
-      />
+      <LinkButton size="sm" icon={<IconOpen />} to={traceTarget}>
+        {t('View Full Trace')}
+      </LinkButton>
     </IssuesTraceOverlayContainer>
   );
 }
 
+function OneOtherIssueEvent({event}: {event: Event}) {
+  const location = useLocation();
+  const organization = useOrganization();
+  const {isLoading, oneOtherIssueEvent} = useTraceTimelineEvents({event});
+  useRouteAnalyticsParams(oneOtherIssueEvent ? {has_related_trace_issue: true} : {});
+
+  if (isLoading || !oneOtherIssueEvent) {
+    return null;
+  }
+
+  const traceTarget = generateTraceTarget(
+    event,
+    organization,
+    {
+      ...location,
+      query: {
+        ...location.query,
+        groupId: event.groupID,
+      },
+    },
+    TraceViewSources.ISSUE_DETAILS
+  );
+
+  return (
+    <Fragment>
+      <span>
+        {t('One other issue appears in the same trace. ')}
+        <Link to={traceTarget}>{t('View Full Trace')}</Link>
+      </span>
+      <TraceIssueEvent event={oneOtherIssueEvent} />
+    </Fragment>
+  );
+}
+
 const IssuesTraceContainer = styled('div')`
   position: relative;
 `;
@@ -165,18 +199,14 @@ export function EventTraceView({group, event, organization}: EventTraceViewProps
   }
 
   const hasProfilingFeature = organization.features.includes('profiling');
-  const hasIssueDetailsTrace = organization.features.includes(
-    'issue-details-always-show-trace'
-  );
   const hasTracePreviewFeature =
     hasProfilingFeature &&
-    hasIssueDetailsTrace &&
     // Only display this for error or default events since performance events are handled elsewhere
     group.issueCategory !== IssueCategory.PERFORMANCE;
 
   return (
     <InterimSection type={SectionKey.TRACE} title={t('Trace')}>
-      <TraceDataSection event={event} />
+      <OneOtherIssueEvent event={event} />
       {hasTracePreviewFeature && (
         <EventTraceViewInner
           event={event}
diff --git a/static/app/views/issueDetails/traceDataSection.tsx b/static/app/views/issueDetails/traceDataSection.tsx
index a326444995e824..140c05096c119f 100644
--- a/static/app/views/issueDetails/traceDataSection.tsx
+++ b/static/app/views/issueDetails/traceDataSection.tsx
@@ -5,6 +5,7 @@ import {t} from 'sentry/locale';
 import {space} from 'sentry/styles/space';
 import type {Event} from 'sentry/types/event';
 import useRouteAnalyticsParams from 'sentry/utils/routeAnalytics/useRouteAnalyticsParams';
+import {useHasStreamlinedUI} from 'sentry/views/issueDetails/utils';
 
 import {TraceIssueEvent} from './traceTimeline/traceIssue';
 import {TraceLink} from './traceTimeline/traceLink';
@@ -12,8 +13,9 @@ import {TraceTimeline} from './traceTimeline/traceTimeline';
 import {useTraceTimelineEvents} from './traceTimeline/useTraceTimelineEvents';
 
 export function TraceDataSection({event}: {event: Event}) {
+  const hasStreamlinedUI = useHasStreamlinedUI();
   // This is also called within the TraceTimeline component but caching will save a second call
-  const {isLoading, oneOtherIssueEvent} = useTraceTimelineEvents({
+  const {isLoading, oneOtherIssueEvent, traceEvents} = useTraceTimelineEvents({
     event,
   });
   let params: Record<string, boolean> = {};
@@ -28,6 +30,11 @@ export function TraceDataSection({event}: {event: Event}) {
     return null;
   }
 
+  const noEvents = !isLoading && traceEvents.length === 0;
+  if (hasStreamlinedUI && (!oneOtherIssueEvent || noEvents)) {
+    return null;
+  }
+
   return (
     <Fragment>
       <StyledTraceLink>