I look at this and see the turbulence, as is to be expected. No surprise there. The efficacy of what he's doing remains to be discovered.
What worries me, in a sense, is that we have yet another case of instability disrupting the markets, and once the dust settles we'll end up in another trading range that's down one more step. If BTC's "big rally" was actually the run to $109K, what do the next three years have in store for us? A series of "step downs" on every big negative news event?
I don't know what the following years will be like, but this year, at least until mid-year seems to be driven by this instability due to tariffs, their delayed implementation or retaliatory tariffs.
The sooner we'll have negotiated deals instead of unilateral decisions, the likelier it is to return to some sort of normality. We'll have to see what that normality will look like than, and how harsh that world will look like compared to what it was before.