At this point I think it's one of two options.
1- Trump and Musk start using government money to build a "strategic reserve", and the BTC price goes way beyond 350k.
2- They decide not to, and we enter a vicious bear market.
A bear market just because the USA decide not to use bitcoin as a strategic reserve? So pretty much the whole bitcoin world is just waiting for Trump to make a decision? It doesn't make any sense. If it happens, good, if it doesn't happen, well, I'm pretty sure bitcoin will survive also this time, just like it always did in the past. I feel like that the US strategic reserve is becoming the new "China bans bitcoin" fud.
Yes, currently Trump has a big influence on bitcoin's future decisions whether bitcoin will go down or the price will go up. Moreover, Robert Kiyosaki has a very surprising view in the future that the price of bitcoin will reach $350k which is really fantastic, but of course there will be reconsideration because it could be just speculation and as investors we must remain careful before making decisions and acting.