Still some time to digest this but my belief is that there will be more people interested in buying as apposed to selling. There should be some effective professional arbitrage organizations so any premium over cash will have a cap. One issue is that a lot of the FCM brokerage firms are not going to allow customers to trade this starting day one. I think a little upside pressure but then again anyone buying will likely have tight risk so volatility is likely to be pretty much the same. For those who bought BTC on the news I expect them to have very little risk tolerance and likely will dump their positions if this weakens much below 10000 .