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https://en.wikipedia.org/wiki/List_of_countries_by_financial_assets_per_capita
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Bitcoin's price expectations are related to the question: how likely is it in the future that people (or institutions) buy or sell Bitcoin?
The US could already be saturated with financial assets, even regarding cryptocurrency holdings. In the US, about 30-50 million people seem to hold crypto already, and also among institutional investors the BTC and crypto holdings are probably way superior to the world's or even the "industrialized countries"' average. While most other countries' inhabitants (with exceptions like El Salvador, UAE and Argentina) aren't still that active, and their potential adoption there is still far away from a ceiling.
Where you're right is that for me the US has a lot of potential to influence Bitcoin to the downside if it turns too anti-crypto. But the US news, from the ETF up to the Trump phenomenon, just in the last months were responsible more for bullish than for bearish movements. The bearish news, with the exception of today (where I'm not sure if the US stock market was responsible for the drop or the insecurity about the Middle East situation), were related to other factors, like MtGox, the movie2k.to coins, and the Iran-Israel tensions.
Okay, from the rest of the world the Bitcoin-related news were actually limited or neutral, for example India didn't change its crypto policy with the new coalition government, EU moved on with MiCa as expected. There was one exception though: the Hong Kong ETF approvals, which hint to a friendlier Chinese policy in the future, but almost didn't impact the market.
It still seems disproportionate to me that even minor US political or market movements seems to inmediately move the Bitcoin price, even if a correlation to Bitcoin's attractiveness for investors in many cases can be disputed. Today's US job report could for example also be interpreted as bullish for Bitcoin because of the rising probability of a Fed interest rate cut
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In conclusion: For me, from a "fundamental analysis" point of view, US news have more potential to move Bitcoin to the downside as the US are already way above average regarding its crypto holdings and industry, while news from the rest of the world, led by India and China, but also the EU for example, have more potential to move it the upside. You're free to disagree of course
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