For me it seems like he is just using his influence to move the market, it is up to us if we want to move the way he wants.
We have experience a similar situation on DOGE when Elon Musk was pumping the price.
The wave could also be done by those new investors being controlled by FUD or FOMO.
That is true but the case of bitcoin is almost very different from DOGE and I believe it is only a small part of the wave that Trump is trying to manipulate. This is more about the level of investor confidence in understanding market conditions especially and the more people who panic, the more pressure will be on the concept of FUD or FOMO. But don't worry because this can be overcome if someone understands the journey of bitcoin because after all price pressure occurs under certain conditions it will find recovery again.
The level of manipulation that occurs cannot fully run in the long term because it is not the concept of the real journey of bitcoin. If we learn about economic lessons, maybe there is a more definite answer that we can use as a reference for the process of rising and falling prices, although in a certain capacity the manipulation is real.