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All coronation ceremonies are essentially expensive funerals.
Currently, the price of 2320 includes at least a 150 Uosh expected premium; if the details of the bill's implementation involve tighter regulation of DeFi than expected, this premium will vanish instantly.
The most pessimistic scenario is: the moment the bill passes is the peak of this rebound. Then, a one-month "regulatory slow decline" begins until Warsh officially takes office on 5.15 and releases the first Federal Reserve liquidity.
Warsh must liquidate more than 20 cryptocurrencies he owns in order to take office on 5.15.
Although he can use OTC, the institutions buying are not charities; they will hedge by shorting in the secondary market. If $SOL , $OP , $ARB , and other core assets are sold off, they could drop more than 20%, experiencing a deep dip.
In summary, it's a pull-up followed by a crash! Or a quick drop with a subsequent rally driven by positive news, with regulation implementation causing a drop again, until Warsh's first liquidity release after taking office triggers a bull market.