If we don't see a breakout this month and if we close April in red, that would be a third red month in a row, which would indicate to me that we most likely entered the bear market.
Trump's policies are partially to blame but are not the only reason.
The positive news of the approval of spot ETFs caused the bull run to start prematurely. If, instead of looking at the halving date, we measure the time from when the price started going up to the ATH, we'll see that this bull run was already longer than the previous one.
It can still be saved by whales/institutional investors, but I think retail already lost interest and I wouldn't be hoping for them to pump up the price, especially considering that the credit card debt was at an all-time high, meaning the average Joe might simply not have any cash to spare.
There were some rumours of Trump administration planning to distribute some free money to the public ($5,000 each, was it?) to share the saving made by the D.O.G.E. I don't know what happened to that idea, but that would have a potential to start another Bitcoin rally, similar to what Covid cheques did in 2021.