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.
Even me too, Trump recent pronouncement about BTC reserve in his country make the price of BTC to pump higher, I guess he have influence about the movement of the price of BTC. Since Trump is going with his second tenure in the office which is very common among those politicians in the office to use that second tenure opportunity to store some money in BTC that will make them to have something to fall back to when their tenure is over.
Donald Trump will do more things that will make investors to push more money into BTC because the price will continue breaking into ATH until he leave office before the price will start dropping for many people to believe that Donald Trump have influence in the move of BTC price.