Almost always and for sure, when the majority is convinced of something, the opposite simply happens.
There were high expectations in the crypto market with the arrival of Trump; in fact, the classic saying occurred: "Buy on the rumor and sell on the news."
The thing is, if Trump has given hope to crypto enthusiasts, on the other hand, his economic policies are hitting or will hit the market.
The American stock market, at historical highs, is going to be battered by inflation from tariffs and stagnation in interest rate cuts and even increases.
It doesn't help that the Chinese are releasing open-source AIs; the magnificent seven will be affected, their results too, dragging down the stock markets and thereby cryptocurrencies, well known for their high correlation with the stock market.