I think Trump's involvement in Bitcoin is somewhere between being bullish and neutral. Although a greater part of Trump's administration has been bullish, there are still some aspects of his policies that have conflicted with Bitcoin's price, like we saw during the tariff war. There will likely be more policies, both now and in the future, that may not sit well with the market and the Bitcoin community. 

If I should dive deeper, our major fear now should be that Bitcoin might slowly move toward centralization, now that Trump and other governments around the world are getting interested.