A typical Chinese way of thinking about the world, the only thing he underestimated is the increase in stablecoins and the fact that stablecoins require a certain amount of underlying collateral, and stablecoins are fundamentally different from cash, naturally having their own peg.

If the market continues in the second half of the year, Bitcoin will indeed need a long rest in the future.
When Trump took office, I wrote that this guy is a disruptor, (this chart was made when he took office, many people didn't understand it at the time, but it's not too late to understand now)
The blonde lunatic is using heavy-handed geopolitical moves to stir up trouble externally in Venezuela and Iran, and will likely also clean up the global financial markets next.
The Trump + Bessant combination, after cleaning up the Iran mess, has a 99% chance of pushing the US financial system to adjust, disrupting the global financial markets.